200 Affordable Housing Units Under Development

Housing

Toulon Place Groundbreaking Ceremony

Aug 2, 2023

Seth Freidman, CEO of Passage Home, speaking at the Toulon Place Groundbreaking Ceremony

Community partners gathered on Wednesday, August 2 to officially break ground on the Toulon Place affordable housing development. This project will provide 200 rental units for households earning at or below 60% of the Area Median Income. Notably, ten percent of these units will be dedicated to offering housing for individuals at risk of or experiencing homelessness.

The property is located adjacent to downtown and in close proximity to job opportunities, parks, and other amenities offered by the City of Raleigh. The Toulon Place development will include a community room, kitchen, computer center, playground, and covered picnic area.

Congressman Wiley Nickel speaking at the Toulon Place Groundbreaking Ceremony

Anticipated to be ready for occupancy by December 2025, this project is a partnership between Solstice Partners, FGM development, GDE Holdings, Mills Property Development, and Passage Home. The City of Raleigh supported this development with nearly $750,000 in gap financing.

To learn more about how the City supports projects like Toulon Place, visit our Affordable Rental Development page or Affordable Housing 101 page.

Maria Dewees Multifamily Lending [email protected]

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