City Council to consider $3.5M project to preserve affordable housing for veterans

CHARLOTTE — The Charlotte City Council will discuss spending $3.5 million to preserve affordable housing for veterans at its meeting Monday night.

Community Solutions International recently acquired the property at 1001 Tyvola in southwest Charlotte and is now asking the city council for assistance to preserve the space.

The funding would preserve 100 of the 297 units as affordable housing for the next 60 years.

Investments from the city council in existing affordable housing projects usually go to properties that are more than 15 years old and rapidly deteriorating.

But 1001 Tyvola was built in 2021 and is in great shape. City Council officials said the trade-off is that more of the property’s units are affordable housing — and that they stay that way for longer.

We are able to keep our housing stock online with a decent level of investment," District 1 Councilmember Dante Anderson said. “It is a good thing for our community.”

The City Council will be briefed on the project at the meeting on Monday night and vote on it in the coming weeks.

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