Buncombe County Reopens Just Home Project Applications for Housing Developers
Buncombe County is seeking additional applications for a housing development partner for the second phase of the Just Home Project. Funded by the MacArthur Foundation, the Just Home Project supports housing for individuals involved in the justice system who are experiencing housing instability.
The selected applicant will be eligible to apply for program-related investment financing up to $5 million for a project that develops, acquires, rehabilitates, or converts housing for individuals with significant barriers to housing stability.
The loan amount will be based on the size and needs of the project, and terms are expected to include:
- Loan made directly to the developer/property owner (not to a special purpose entity).
- Unsecured, full recourse to the borrower.
- 1% interest, payable quarterly.
- Term up to 10 years (flexible up to 15 years if necessary).
- Repayment may include step-downs and is not required to be fully amortizing.
- Ongoing reporting for the full loan term on occupancy of Just Home-eligible units, including audited financial statements.
- While not all units must be designated for Just Home participants, the number must represent a meaningful contribution to addressing needs identified in the draft Housing Investment Action Plan found in the application.
The ideal applicant will have:
- Experience in developing, acquiring, rehabilitating, or operating housing for people with significant service needs.
- Experience in housing people who are housing unstable or involved in the justice system.
- Experience in implementing referral pathways with community partners.
- Experience in working with community or tenant advisory boards.
- Capacity to provide property management for tenants with complex needs.
- Ability to develop oroperatehousing in locations that support stability.
Applicants are encouraged to join the virtual information session on Thursday, September 17 at 2 p.m. Applications must be submitted through the portal by Friday, October 30 at noon. A project will be selected in December.
To receive a link to the information session, email Max Taintor.
Buncombe County is participating in the Just Home Project, which is an initiative from the MacArthur Foundation to invest in new housing models that help break the link between housing instability and jail incarceration and replace the cycle with a resilience framework. In fiscal year 2025, 696 unique unhoused individuals, representing 17% of all bookings, cycled through the Buncombe County Detention Facility, underscoring the strong connection between housing instability and justice system involvement in Buncombe County.
Last year, with support from Thrive Asheville and Change Matters, LLC, Buncombe County established a Community Advisory Committee that provided guidance on the planning process, helped interpret findings, shaped community engagement, and prioritized recommendations. This application for a housing development partner is part of the second phase of the Just Home Project.
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