HIGH POINT, N.C. (WGHP) — High Point is growing, and with growth comes challenges. High Point city leaders addressed this during the State of the City. Leaders laid out their vision on how to manage that growth.
“Issues regarding housing, economic development, public safety are things at the top of everyone’s mind, and we’re very proud of what we’ve done in those areas but also very excited about what we’ll continue to do,” High Point Mayor Cyril Jefferson said.
Jefferson had a lot to brag about during Wednesday’s State of the City address.
The city has seen a 16% drop in crime year-to-date, no increases to electric or solid waste fees and a healthy tax base, but there’s one big challenge the city must tackle.
“We’re really trying to get our minds wrapped around who are we developing housing for and what does that housing need to look like,” High Point City Manager Tasha Logan Ford said.
Ford said High Point’s typical 1% annual population growth is expected to increase at a faster rate through 2050.
She said it’s expected with new jobs and investment coming to the city and county region.
One solution being explored by the city is developing a housing fund
Rev. Dr. Joe Blosser is one of the driving forces behind the idea. He is the Earl and Kathryn Congdon Family Foundation chief executive officer.
“This is a bold plan to try to raise $40 million in partnership with Self-help Ventures Fund, which is our nonprofit CDFI partner … We’re going to raise those funds and invest them in self-help, so that self-help can make low-interest loans to developers to build those apartment units here in High Point,” Blosser said.
“He brought to the city this great idea where we could leverage taxpayer dollars. $2 million that will lead to a $40 million housing fund,” Jefferson said.
Leaders said a collaborative approach is key, bringing together city leaders, nonprofits and developers.
“I’m hoping that every attendee leaves here thinking about what they can do to be a part of the vision of the city and how they can participate in helping us build for our future,” Jefferson said.
Through the development of the housing fund, the city’s goal is to create more than 1,000 new units for people earning between 30% and 80% of the area and median income.
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by: Celeste Smith