Skip to Content

Chapel Hill Affordable Housing Fund

Financing for creating and preserving affordable multifamily rental housing in Chapel Hill, North Carolina  

The Chapel Hill Affordable Housing Loan Fund (CHAHLF) aims to help create more affordable housing in Chapel Hill, North Carolina and its Extra-Territorial Jurisdiction (ETJ). The Town of Chapel Hill, UNC Health, Pinnacle, Capital One, and Self-Help are partnering to fund and administer the program. 

CHAHLF loans provide financing for nonprofit and for-profit developers to acquire, refinance, create, rehabilitate, and preserve affordable multifamily rental housing in Chapel Hill. See below for more details on program terms and eligibility. 

 

Eligible Projects

  • For existing properties or land to develop affordable housing. 

  • Must be located within the Town of Chapel Hill or its ETJ. 

Benefits of the Chapel Hill Affordable Housing Loan Fund 

  • Offers advantageous bridge or mezzanine financing. 

  • Enables developers to save money that can be used to preserve affordability in housing projects. 

  • Loans can be used to acquire, create, rehabilitate, refinance, or preserve affordable housing units. 

  • Access to in-house legal and real estate development expertise. 

  • No prepayment penalty. 

  • Low (1%) origination fee. 


 

 
Chapel Hill Bridge Financing

Bridge Financing for Affordable Housing

  • Term: Up to 5 years
  • Amounts: $500,000 to $7,000,000
  • 5.0% and 6.5% rates available
Chapel Hill Mezzanine Financing

Permanent Mezzanine Financing for Affordable Housing

  • Term: Up to 15 years
  • Amounts: $500,000 to $7,000,000
  • 4.5% and 6.0% rates available
We encourage you to share this opportunity with qualified developers and partners. Download a printable (PDF) flyer about the program here.