Strategic Initiative | Housing Affordability

Amount

$25,000

Application Deadline

March 14, 2025

Overview & Impact Area Update 

Housing affordability is a critical issue in the Triangle region, impacting both individuals and the overall economic health of the area. Recent population growth and related surge in demand has driven up housing prices dramatically, making it increasingly challenging for many to find affordable places to live. This lack of affordability especially affects essential workers like teachers, service industry employees, and young professionals, potentially forcing them to commute long distances or even leave the area, impacting the region’s workforce and overall quality of life.    

The lack of affordable housing also poses significant challenges to economic competitiveness and growth. Businesses rely on a stable and accessible workforce, and when employees struggle to find affordable housing, it can lead to decreased productivity, increased employee turnover, and difficulty attracting and retaining talent. Furthermore, a lack of affordable housing options can exacerbate social inequities and contribute to increased homelessness and poverty within our region.    

Addressing housing affordability is crucial for the long-term sustainability and success of the Triangle. It requires a multifaceted approach, including increased investment in affordable housing development, zoning reforms to encourage diverse housing options, and policies that support homeownership for low- and moderate-income families.  

Through this strategic focus on housing affordability, Triangle Community Foundation seeks to leverage its unique assets to make an impact in the Triangle. Grantmaking is one tool we will use to support nonprofit organizations in the Triangle who are addressing housing affordability through a variety of approaches, across the housing continuum.  

Grantmaking

We are pleased to offer one-year grants in our introductory, discretionary program supporting Triangle housing affordability non-profits. Funding will support general operations of organizations that support housing affordability initiatives across the Triangle. We anticipate making a total of 10 awards through this call for proposals. The goals and funding strategies for this inaugural cycle of the Housing Affordability grant program are outlined below: 

  • Program Goals
    • Triangle residents have opportunities to access and maintain safe, affordable, stable housing along the housing continuum 
    • Understand and promote promising practices to increase access to safe, affordable, stable housing 
  • Funding Strategies
    • Fund organizations implementing promising practices that reflect one or more of these approaches:
      • Supply – Incentives to build affordable housing; Tax Credit Development; Public Private Partnerships
      • Subsidy – Down payment and/or rental assistance; Tax Credit Development; Tax Credits
      • Stability – Cooperative models; property tax relief; land banks; eviction and foreclosure prevention; homeownership counseling
      • Systems – Policies; rules and processes; organizational capacity 

Eligibility

  • Nonprofit, 501(c)(3) organizations based in and serving one or more Triangle Counties (Wake, Durham, Orange, Chatham)
  • Have a track record (at least 3 years) of addressing housing affordability challenges in the Triangle 
  • Organizations must meet the Foundation’s non-discrimination policy (see application)
  • Only one application per organization will be considered 

Evaluation Criteria

  • Alignment of organization’s current/planned housing affordability initiatives/programming with program goals and community needs
  • Organization’s track record of delivering initiatives and programming that aligns with program goals
  • Commitment to equity and community engagement
  • Organization’s financial health 

We will seek to have a grantee cohort that reflects a diversity of housing affordability strategies, points of focus on the housing continuum, and represent the four counties Triangle Community Foundation serves (Chatham, Durham, Orange, and Wake). 

Timeline

Call for proposals openWednesday, February 12, 2025
Applications deadlineFriday, March 14, 2025
Grantees announcedMonday, June 16, 2025
Please reach out to us if you have questions PRIOR to the deadline!