The incentive program offers lower rent rates at two Eller Capital properties, The Apartments at Midtown 501 and the 86 North Apartments. For eligible employees, the rental savings range from $2,000 to $3,050 on a 12-month lease and application fees are waived.
Under the incentive program, rent at a two-bedroom apartment at Midtown 501 starts at $1,067 a month, reduced from $1,300. A two-bedroom at the 86 North Apartments starts at $895, reduced from $1,095.
Delores Bailey, executive director at EmPOWERment, Inc., which helps low-income residents find housing, said the apartment incentive program is a step in the right direction to affordable housing in Chapel Hill and Carrboro.
“They need to be applauded for trying this,” she said. “They’re targeting town employees, firefighters and teachers — that’s perfect. Those are the people who can’t afford to live in Chapel Hill.”