Buncombe County's Ferry Road project OK'd by Asheville council: 645 units, 55% affordable
ASHEVILLE - More than 100 acres of forested land slope toward the French Broad River in South Asheville, ribboned with wetland and streams, and a series of bluffs and ravines. The site was bought by Buncombe County for $6.8 million in 2015. After acquisition, two plans fell through in quick succession.
What followed was years of study, and a $220,900 contract with the UNC School of Government's Development Finance Initiative, which ultimately landed a sprawling project before Asheville City Council March 26.
The county proposes 645 units, over half intended to be affordable, for the 137-acre site on Ferry Road. Similar to other large, multi-phase conditional zonings considered by City Council, like Project Aspire, approved in September, specific unit counts and affordability levels are subject to change as plans develop further.
The project received City Council's unanimous approval at its March 26 meeting, securing plans for the mixed-income development, which includes preservation of more than 70 acres along the French Broad, protected waterways, multiple parks and an "extensive" network of greenways and trails, according to city planner Will Palmquist.
Though the county owns the property and is the applicant, it falls within the bounds of the city. The area is bordered by Interstate-26, Ferry Road and the French Broad River near the Pratt & Whitney plant, overlooked by the Blue Ridge Parkway to the south.
How many units? Affordability?
“We know that to turn the tide on the growing affordable housing crisis in our community requires active collaboration between Asheville and Buncombe County," Commission Chair Brownie Newman said in his address to council. "We’ve partnered on many successful projects in the past, and approval of this project represents another partnership opportunity tonight.”
He called it one of the most significant developments focused on affordable housing for either locality in recent years.
While project conditions dictate a minimum of 20% of the renter- and owner-occupied units will be designated affordable at 80% area median income and below, the true intention is that the percentage of affordable units will be much greater, Newman said.
More: Study: How much affordable housing has Asheville City Council approved in 10 years?
All affordable units will accept housing choice vouchers.
In Asheville, according to a 2023 appendix, 30% AMI is $17,500 for a one-person household and $20,400 for two. At 80% AMI, annual incomes are $47,600 and $54,500, respectively.
Ferry Road is set to include a wide range of affordable apartment and homeownership opportunities, and while a total unit count has been projected to be around 645 units, the accepted range for the unit counts does go higher. If built to the proposed maximum, 935 units could be built.
Buncombe County Director of Economic Development Tim Love told the Citizen Times March 27 via email that the goal is 645 units, and the county does not feel maximizing the number of units is "truly representative of County Commissioner goals regarding conservation on the site."
After assessing the environmental and financial attributes of the site, a 645-unit approach was found to be the "most appropriate."
"This allows for the density to increase affordable housing units while respecting the land and conservation approach (e.g., 60% conservation)," he said. "Additionally, with support from the UNC DFI team, we were able to assess the financial viability of the project so that we were developing a project that would be feasible from a development perspective."
Here is the proposed range of unit counts for the development:
Multifamily North: 190-350 units.
Mixed-use Core: 0-85 units.
Multifamily West: 260-360 units.
Mixed Residential: 100-140 units.
The county imagines a range of affordability for rental units, from 30% AMI to 80% AMI, alongside market rate rentals. For the homeownership units, it proposes homes in the 50-60% AMI range, along with market rate and missing middle housing. Rents could range from $375 to $2,500, the county presentation said, and sale values from $115,000 to $400,000.
Asheville's metro faces some of the highest fair market rents in the Southeast, the Citizen Times has reported, and its housing market hit an all-time high in 2023.
More: As rents climb, where are the most expensive, least expensive locations in NC?
Sarah Odio, an associate director with the Development Finance Initiative, said next steps for Ferry Road means finding a "master development partner" to execute the project, which is why proposals are so broad.
"We want to give maximum flexibility," Odio told council, in order to bring the best developer to the table. According to a presentation provided by the county, developer solicitation will begin this spring.
With council's approval of the "conceptual master plan," intended to define the development's general parameters and its programming, the project's subsequent phases will be reviewed on a staff level, and will not return to City Council unless it falls outside of the approved ranges.
Conservation, greenway connectivity
While the project does emphasize affordable housing, a majority of the site is being placed under conservation easements, where residents will be able to travel through the community using greenways and trails.
The area has a "broad diversity of wildlife that will be protected through conservation," according to development documents. Salamanders and "evidence of river otters" have been spotted in the area.
The project's roadways and proposed parking has seen changes as the result of the conservation model, where the county has intentionally proposed a technical modification to city plans, which will remove minimum parking requirements for the project.
Its greenways are intended to tie into the proposed Bent Creek Greenway, creating a "regional trail connection," Palmquist said. A combination of asphalt greenways, natural surface trails, boardwalks and overlooks are proposed.
Transit?
Council members were largely supportive of the project, though some voiced concerns around a lack of connectivity to public transit, specifically the city's bus system.
The closest bus line is about 1.5 miles from the development's roadway connection.
While she pointed at the "interior plans" for walkability, bikeability and accessibility, council member Kim Roney called transit a "core infrastructure" missing from the proposed plans, and said the neighborhood currently hinges on its residents owning a car.
She asked they "model partnership" by funding transit expansion for nearby routes.
"There is a gap here and I think we can fill it if we work together," Roney said.
Public commenter Jen Hampton, housing and wages organizer for Just Economics of Western North Carolina, urged the city and county to extend transit access to the property.
"Without it a large portion of the population could miss out," she said, adding that the development stands to be a "gamechanger," but access to public transit is vital for true affordability.
Similar concerns were discussed at the March Planning and Zoning Commission meeting, and commissioners voted to include a condition that the county would explore an extension of fixed-route bus service to the project site, in partnership with the city.
Cost?
The project is estimated to cost $210 million, $34 million of which could come from Buncombe County. The investment would come in part from selling properties, infrastructure and subsidizing the restricted affordable units, the Citizen Times reported in October.
There was no financial request of the city March 26.
A project timeline shows site prep beginning in late 2025, with "housing" projected for a window of late 2026 through 2029.
More: Asheville affordable housing project with 645 units moves forward; City Council to vote
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Sarah Honosky is the city government reporter for the Asheville Citizen Times, part of the USA TODAY Network. News Tips? Email shonosky@citizentimes.com or message on Twitter at @slhonosky. Please support local, daily journalism with a subscription to the Citizen Times.
This article originally appeared on Asheville Citizen Times: Hundreds of units OK'd for South Asheville in Ferry Road project
