Affordable Housing

A major component within our strategic plan is addressing sub-standard housing conditions in East Greensboro neighborhoods. Quality-built, affordable, rental housing units have been in significantly limited supply in East Greensboro.

Affordable housing program

The Affordable Housing Program is designed to provide quality affordable housing options in lower wealth east Greensboro neighborhoods. Our challenge as an affordable housing developer is this: the cost to build new housing often exceeds the value of the existing housing stock in these neighborhoods. In order to overcome this challenge, EGN is partnering with donors and sponsors that will provide the "gap funding" necessary to offset the cost of new construction. Because of the generosity of funding partners, EGN can help first-time home buyers gain access to a fundamental pillar of wealth-building - owning a home. With each new home, we are able to lift the asset value of these neighborhoods.

Adding quality housing units to the existing housing stock will have a positive impact on property values and attract additional investment. It is also important that older existing homes receive necessary upgrades that will preserve or improve property values and elevate the quality and character of neighborhoods.

affordable rental units

A major component within our strategic plan is addressing sub-standard housing conditions in East Greensboro neighborhoods. Quality-built, affordable, rental units have been in significantly limited supply in East Greensboro. Adding quality rental units will have a positive impact on property values and attract additional investment.