NC House bill backs $50M affordable housing loans

April 30, 2026

Summary

A bipartisan North Carolina bill would create a $50 million revolving loan fund for affordable housing development costs.

Why this matters

The bill would create a new financing tool for nonprofit and other eligible developers facing high upfront housing costs. Its progress could affect how quickly affordable housing projects move forward in North Carolina.

A bipartisan North Carolina House bill would provide a one-time $50 million appropriation to create a revolving, below-market-interest loan program for affordable housing development.

Under House Bill 1072, borrowers could use the loans for land acquisition, predevelopment, and infrastructure costs. Supporters said those expenses can prevent projects from moving forward.

A report by the N.C. Chamber Foundation projected a five-year inventory gap of 764,478 units, including 442,118 for-sale homes and 322,360 rental units.

House Democratic Leader Robert Reives of Chatham County said builders call the early development stage the “pre-construction valley of death.”

“For nonprofit affordable housing builders, especially those working with limited margins and mission-driven models, those upfront costs can stop a good project before it ever gets off the ground, causing it to be stuck in limbo,” Reives said during a press conference.

Reives said the revolving structure would allow the money to be reused for future projects.

Rep. John Bell, a Wayne County Republican and House Rules Committee chairman, sponsored the bill with Reives, Rep. Chris Humphrey, a Greene County Republican, and Rep. Carla Cunningham of Mecklenburg County, a former Democrat who registered this week as an independent.

“Importantly, this is a one-time investment of a self-sustaining fund,” Bell said. “It’s not just about addressing today’s shortage, it’s about creating long-term solutions that can continue to work for years to come.”

The bill would direct the North Carolina Housing Finance Agency to create and administer the Affordable Housing Infrastructure Development Loan Program and the fund that would finance the loans.

Reeves said infrastructure costs average about $50,000 per lot statewide, which can put a 10-home subdivision above $500,000. He said the revolving fund could help create 1,000 units in its first five years.

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A filing Wednesday evening in the District of Massachusetts showed the administration was appealing U.S. District Judge Brian Murphy’s March 16 order. Murphy put on hold decisions made by the Centers for Disease Control and Prevention’s vaccine advisory committee, ruling that Kennedy had replaced the committee “unlawfully.”

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