Work has started on Chapanoke Apartments, 200 affordable homes on Chapanoke Road in south Raleigh for households earning 30% to 70% of area median income.

Construction has started on 200 affordable apartments on Chapanoke Road in south Raleigh. City, county and developer leaders broke ground on Chapanoke Apartments on Oct. 22, the City of Raleigh said in a news release.

Every apartment is for households earning 30% to 70% of the area median income. For a two-person household, the city said, that is $31,800 to $74,130 a year. The homes must stay affordable for at least 30 years.

What is being built

The site is at 326 Chapanoke Road, next to Wake Tech’s Public Safety Education Campus and near the planned Southern Wake Bus Rapid Transit corridor. The developers expect to finish in early 2028, according to a July release from Gilbane Development, one of the partners.

Apartment size Number
One bedroom 66
Two bedrooms 86
Three bedrooms 48
Total 200

Some homes are set aside:

  • 40 apartments are supportive housing for residents with disabilities
  • 10 are kept for people referred through housing programs the city supports

The nonprofit Families Together will provide services on site, the city said.

Who is paying

The builder is Raleigh Community Partners. It is a partnership of Harmony Housing Affordable Development, Gilbane Development and F7 International Development. Gilbane put the total cost at nearly $93 million.

  • City of Raleigh: $4.5 million
  • Wake County: $7.1 million, plus the land on a low-cost, long-term lease
  • Private money: low-income housing tax credit equity through Greystone Real Estate Capital, and construction and permanent loans from Greystone Housing Impact Investors and Citi Community Capital

Wake Tech donated the land, Mark Perlman, deputy director of Wake County’s Housing Affordability and Community Revitalization Department, said in the Gilbane release. “We are particularly excited about the positive impact this opportunity can have on eligible Wake Tech students,” Perlman said.

“It demonstrates what is possible when public agencies, local governments, and private partners work together,” Tanya Eastwood, president and CEO of Harmony Housing Affordable Development, said in the same release.

The city counts the project toward its affordable housing plan, A Home for Every Neighbor.

What it means for you

  • Nobody can apply yet. Neither the city nor the developers have said when leasing will open. With completion expected in early 2028, applications are likely to come later.
  • Check whether you would qualify. The city publishes the income and rent limits by household size.
  • More housing money is on Tuesday’s ballot. Raleigh’s $101.5 million housing bond includes $57.6 million for building and preserving affordable homes. Our Election Day guide has the details.
  • Questions go to the city’s Housing and Community Development department.

What homes cost across the city is on our home prices page.