The long-running development saga of a 137-acre property off Ferry Road near Bent Creek may be moving toward a resolution. On Tuesday, the Buncombe County Board of Commissioners unanimously voted to begin developing a memorandum of understanding with Maryland-based developer Urban Atlantic for a 645-unit, mixed-income housing community on the site.
“This is really exciting, to finally see this move into fruition, and I’m excited to work toward meeting our affordable housing goals,” said board Chair Amanda Edwards.
As outlined in a presentation to the board, Urban Atlantic would construct 530 apartments and 115 for-sale townhouses, 308 of which would be designated as affordable for residents earning 80% or less of the area median income (AMI). That works out to a household income of up to $74,500 for a family of four, according to the federal Department of Housing and Urban Development.
Of those rental units, 54 would be earmarked for “extremely low income” people earning 30% or less of AMI ($32,150 for a family of four). However, the developer’s plans reserve 64 fewer units for residents in the 60% AMI range than were outlined in the county’s initial goals for the site. Other aspects of the proposal include on-site day care, health care, and nature trails.
The project’s cost is estimated at over $160 million, including an estimated $19 million contribution from Buncombe County to subsidize the affordable units and $7 million from other partners — a total subsidy of over $84,000 per affordable unit. County leaders haven’t yet specified what funding sources would be used to support that subsidy.
The fate of the land has been in limbo since at least 1995, when the city of Asheville agreed to give it to Henderson County for a sewage treatment facility as part of a broader deal over its water system. After that plan fell through, Buncombe County acquired the property in 2015, in a failed bid to attract an expansion by Oregon-based Deschutes Brewery.
Asheville City Council approved a 416-unit subdivision on the Ferry Road site in 2019, but construction never began. Buncombe County began its own strategic planning for the parcel in 2021. If work on the project proceeds per Urban Atlantic’s proposed timeline, construction would wrap up in the fall of 2030.
Other tidbits
- Buncombe County will end its official state of emergency for Hurricane Helene at the end of June, in alignment with the end of North Carolina’s statewide emergency declaration. The county closed its Emergency Operations Center for storm response June 4.
- The county will accept a $5.57 million, zero-interest loan from the state government to help cover Helene recovery costs. The money comes on top of a previous $8.45 million loan from the state; the funds must be repaid by the end of fiscal year 2030.
- Curtis Euler will serve as the Buncombe government’s new chief attorney effective Wednesday, filling a seat that’s been vacant since September. Euler, who will earn a salary of $210,000 in the new role, is currently a senior attorney for the county.
- Commissioners may be considering moves in response to the administration of President Donald Trump. At the end of its public Tuesday meeting, the board entered a closed session to consult with Euler about federal executive orders concerning immigration enforcement, diversity programs, and “merit-based opportunity.”
Every first and third Tuesday, the Buncombe County Board of Commissioners meets at 200 College Street, Room 326, in downtown Asheville, beginning at 5 p.m. See the full recording and agenda of the June 17 meeting.
