DHIC, a Raleigh-based non-profit housing development company, has received a $626,000 grant to fund new affordable housing projects and homebuyer counseling programs.
DHIC's grant is among the largest awarded under the NeighborWorks America program, which will provide more than $119 million to more than 230 nonprofit organizations in thousands of communities nationwide.
The grants will be used to for homebuyer counseling; construction and rehabilitation of properties left vacant by the housing crisis; foreclosure prevention efforts; and producing and managing affordable rental properties and homeownership opportunities.
DHIC has built or rehabed more than 1,500 apartments and 400 homes for sale in the greater Triangle. It also provides education and counseling to first-time homebuyers.
The nonprofit receives funding from the city of Raleigh, the town of Cary, Wake County, the N.C. Housing Finance Agency, commercial bank and federal stimulus funds to build three affordable apartment communities in Wake County including:
DHIC's projects include Highland Terrace in Cary and Brookridge and Meadowcreek Commons in Raleigh.