What is the Housing Trust Fund (HTF)?
The Housing Trust Fund was established by the Asheville City Council in 2000 to fund the construction of affordable housing units in our community. Between 2001 and 2019, approximately 1300 units have been built using this funding source.
The Housing Trust Fund provides low-interest loans for a variety of projects that serve low- and moderate-income people. Projects may be rental or homeownership.
Current: Housing Trust Fund Policy – Adopted December 12, 2023
HTF Application Materials
FY 2026 Housing Trust Fund Application
List of Attachments Needed (Resource Page for Applicants)
Housing Trust Fund Procedures and Guidelines
HTF Appendices
Questions may be directed to the Affordable Housing Division at affordablehousing@ashevillenc.gov.
Eligible Uses
The Housing Trust Fund has a range of eligible uses including:
- Acquisition of real property
- Construction of new housing for sale or rental, including land acquisition and hard costs.
- Conversion or adaptive reuse of existing non-residential structures for housing.
- Purchase and rehabilitation of existing substandard multifamily housing units.
- Purchase and rehabilitation or conversion of market-rate multifamily developments to affordable housing.
- Manufactured housing and modular construction.
- Down payment assistance loans
Housing Trust Funds are not available for individuals seeking to build or renovate their own home. Projects must be located within the Asheville City limits to be eligible for assistance.
Past Awards
On April 23, 2024, City Council reviewed 2024-25 HTF proposals and approved five projects for funding. Here is a summary of the five approved projects.
Development |
No. of units |
Loan Amount |
Incomes Served |
Affordability Term |
Loan Terms |
(1) Star Point Apts |
60 |
$448,582 |
30-60% AMI |
40 years |
40-year maturity, 0% interest, deferred principle. |
(2) Roers Affordable |
126 |
$3,879,366 |
60% AMI |
30 years |
30-year term, 2% interest, deferred principle. |
(3) Hospitality Houses |
2 |
$ 40,000 |
60% AMI |
10-15 years |
3-year term, 2% interest |
(4) Mountain Housing DPA |
5 |
$300,000 |
80% AMI |
10 years |
40-year maturity, 0% interest |
(5) AAHH DPA |
4 |
$146,000 |
60% AMI |
30 years |
30-year term, 0% interest |
Total |
197 |
$4,813,948 |
Contact Information
Sasha Vrtunski, Affordable Housing Officer
svrtunski@ashevillenc.gov