Multifamily Development Fund
Creating Multifamily Rental Housing
affordable for low- and moderate-income households in storm-impacted communities
McArthur Park II Helps Fayetteville Meet Affordable Housing Needs
The North Carolina Office of Recovery and Resiliency funded McArthur Park II, an affordable multifamily development in Fayetteville which includes 80 rental apartments.
The Multifamily Development Fund program provides financing to repair rental housing with major to severe storm damage and creates new affordable multifamily housing for low- and moderate-income (LMI) households. Through a partnership with the North Carolina Housing Finance Agency, the Multifamily Development Fund provided $9.8 million to assist in funding the McArthur Park II project, which created 80 new housing units in Fayetteville.