The Raleigh City Council has approved funding and a land lease for a new affordable housing development in downtown Raleigh. The city council approved almost $1.24 million and a long-term land lease to help with the project, which will bring 28 rental homes to city-owned sites near East Street and Cabarrus Street.

Residents of the new development will need to earn between 30% and 60% of the area median income, which is around $79,380 for a family of four in Raleigh. Eight of the homes are reserved for people with disabilities who earn less than 50% of the area median income.

The project developer is Local Post, a property management company based in the Triangle. This approval is one of several affordable housing projects approved by the city of Raleigh in recent months, including a project in April that will bring 491 new apartment homes across five developments.

Original reporting: WRAL Raleigh — read the source article.