Gap Financing for Rental Development
The Town provides gap financing to developers of affordable multifamily housing to build or purchase and rehabilitate privately owned and managed affordable rental units. Town funds are leveraged with federal low-income housing tax credits, conventional financing, and/or other public financing sources.
Funds are made available annually through the dedicated Housing Fund.
Affordable Housing Incentive Zoning Policy
In 2023 the Town of Apex adopted the Affordable Housing Incentive Zoning Policy. The policy encourages developers to provide affordable homes or lots as part of a proposed development in exchange for incentives.