Buncombe County Affordable Housing Subcommittee | February 3, 2026

Buncombe County Affordable Housing Subcommittee Meeting Recap – February 3, 2026

On February 3, 2026, the Buncombe County Affordable Housing Subcommittee convened to discuss ongoing affordable housing initiatives and explore potential funding avenues for addressing the county’s critical needs. This meeting, focused solely on the Affordable Housing Subcommittee's work (and distinct from other county boards), provided valuable insights into current programs and future plans for expanding affordable housing options in our community.

A primary focus of the meeting was a review of the Employer Homebuyer Program pilot, presented by Angie Welsh from Mountain Housing Opportunities. While the program successfully facilitated one home purchase for a Buncombe County resident, saving them $5,000, challenges remain. Two pre-qualified buyers are still searching for suitable homes and three applicants have unfortunately dropped out of the process, largely due to difficulty finding properties within their budget. The committee acknowledged that rising housing costs necessitate a reevaluation of the program, with discussions centering on potentially increasing grant and match amounts to better support buyers. They also agreed to monitor potential changes from the U.S. Department of Housing and Urban Development (HUD) regarding income limits, as these changes could impact program eligibility.

The meeting also delved into the competitive landscape of tax credit applications, a crucial funding source for affordable housing development. Staff presented that a record-breaking 1399 applications were submitted statewide, highlighting the increased developer interest in affordable housing projects. Buncombe County, designated as a priority county, submitted 7 applications for the 9% tax credit and 16 for the 4%, demonstrating a strong commitment to securing these vital resources. The committee discussed how Buncombe County’s ranking within the metro competition area is determined, emphasizing the importance of creating new affordable housing units relative to the number of cost-burdened renters.

A significant portion of the meeting was dedicated to reviewing requests for funding through the Affordable Housing Service Program (AHSP). A total of $16 million in requests were received from 25 organizations, showcasing the breadth of need within our community. The committee noted a significant number of requests focused on administrative support and multi-family rental projects, as well as potential opportunities to leverage existing funds – currently totaling over $11 million – for projects like those planned for Cox Avenue and Ferry Road. While no formal votes were taken during this meeting, the committee will continue reviewing these applications and providing further analysis in upcoming sessions.

There was no public comment during this meeting, but the discussions clearly demonstrated a shared commitment among subcommittee members to address Buncombe County’s affordable housing challenges. Key action items emerging from the meeting include continued follow-up with discouraged Employer Homebuyer Program applicants, consideration of increasing grant and match amounts within that program, monitoring HUD income limit changes, and a coordinated effort with the City of Asheville to explore funding opportunities. The committee anticipates presenting funding recommendations in April, with final budget approval expected at the end of that month.

This meeting underscored the ongoing efforts to expand affordable housing options in Buncombe County and highlighted the importance of partnerships between county government, non-profit organizations like Mountain Housing Opportunities and OnTrack, and developers. Residents can expect further updates as the committee progresses through the application review process and works towards securing vital funding for affordable housing initiatives.