KSuite Impact Report: Affordable Housing
Building Safe, Stable, and Affordable Communities
The Housing Action Group at KSuite is committed to making affordable housing a reality for families across our region. As housing costs rise, our members are stepping in with strategic investments and partnerships that drive long-term solutions.
🏡 Expanding Access to Homeownership
Through collaboration and capital, KSuite members are transforming the housing landscape:
- Land Acquisition: In partnership with local churches, we’ve secured land to support over 500 new homes for families earning under 90% of the Area Median Income (AMI).
- Construction + Sales: Built and sold 50 affordable homes to qualifying families.
- Capital Investment: Raised a $30M impact land fund to fuel development of 500 new homes and supplied $12M toward construction.
- Future Growth: Launched development of 100 new homesites, with $8M allocated and completion targeted for 2025.
- Long-Term Vision: Secured $30M in capital to acquire and develop 500 homes over five years for families earning below 100% of AMI.
- Homeownership Pipeline: Hosted workshops and built a pipeline of 1,500+ families preparing for homeownership.
- CMS Teacher Pilot Program: Raised $450K to reward Charlotte-Mecklenburg Schools teachers with homeownership grants and support.
🏢 Increasing Affordable Rental Options
KSuite members are also investing in quality rental housing to serve low- and moderate-income residents:
- LIHTC Apartments: Built and leased 150 apartments under the Low-Income Housing Tax Credit (LIHTC) program, serving families earning 60% of AMI.
- More on the Way: Initiated construction of 208 additional LIHTC apartments.
- Townhome Rentals: Contracted land for up to 85 "For Rent" townhomes, targeting families earning 70–80% of AMI.
- Funding Future Projects: Secured capital (amount forthcoming) for additional LIHTC apartment development.
💡 A Collective, Catalytic Impact
KSuite members are leveraging both public and private resources to create lasting change:
- Unlocking long-term affordability.
- Fostering mixed-income communities.
- Serving as a catalyst for inclusive development across the region.
Together, we’re not just building homes—we’re building hope, stability, and opportunity for families who need it most.
