Federal funding announced for affordable housing in southeast Raleigh

New federal funding was announced Monday for an affordable housing development in southeast Raleigh.

The money is for the Cottages of Idlewild development.

Congressman Wiley Nickel joined Raleigh leaders to announce $560,000 in federal funding for what will be the city's first cottage court development.

The 18-unit affordable-cottage community will offer homeownership and rental opportunities for individuals or households earning between 50% and 80% of the area's median income.

"This is the thing that matters for the folks that I represent; getting the cost of housing down," Nickel said. "Costs are far too high. We need to do much more, but today we get to celebrate progress. This will be a home for many families and it is going to be great affordable housing."

The project will use a public land trust model in which residents own their homes but not the land they sit on.

North Carolina Central men's basketball coach LeVelle Moton is one of the developers behind the project . A major goal behind it is to increase Black homeownership in a historically Black part of the city.