360 Hilliard Development Process

360 Hilliard under construction

Happening Now

Construction is underway for a new affordable and mixed income community at 360 Hilliard Avenue, next to the Aston Tennis Center.  Late 2019, the City of Asheville sold land to the Kassinger Development Group to build 86 apartment homes, with a requirement that 34 apartments are affordable, in a downtown location close to jobs and community amenities. Kassinger has built multiple quality projects in the Asheville community, including The Retreat at Hunt Hill Apartments, Weirbridge Village Apartments and Audubon Place Apartments.

The affordable apartments will be available to individuals and families ranging in income from $27,900 (single person) to $42,500 for a family of two. Rental rates for the affordable units are currently estimated at $650 to $900 per month based on income.  Completion is estimated for late fall 2020.

 


Background

Getting an affordable housing development off the ground is complex. The City and Kassinger have had to re-work the details of the project multiple times to overcome the challenges of putting together a public-private partnership for affordable housing. The new agreement includes the following terms:

The 360 Hilliard Ave. development will be an affordable and mixed-income rental community of 86 units with 34 affordable units. Of those, 18 units would be set aside for 60% Area Median Income (AMI) and below households and 16 units for 80% AMI and below households.  A deed restriction guarantees affordability for 50 years.

  • The site size is 1.75 acres.
  • The City sold the parcel for $475,000, which is a discount from market value.
  • In addition to bank financing and private funding, the development borrowed $1.4 million  from the City’s Housing Trust Fund.
  • The City provided a Land Use Incentive Grant that totals $560,043.
  • The developer will install a public parking lot at the rear of the tennis courts, with the City to pay for half of the construction costs.
  • The developer will install the trailhead and approximately 400 feet of the Bacoate Branch Greenway as well as the associated stormwater improvements.

 


Construction and Impact on Parking at Aston Tennis Center

We appreciate the patience of the WECAN community neighbors and the users of the Aston Tennis Center during construction.  Parking is no longer available next to the tennis courts. At the end of the construction period, a new public parking lot will be available at the rear of the courts, with a total of 72 spaces.

Tennis Center staff is working on an interim parking plan.

 


Timeline

June 2019 – Council approved sale and terms of 360 Hilliard

December 2019 – Land was sold to Kassinger Development Group

January 2020 – Construction began

Fall 2020 – Lease up for market rate and affordable units to begin

Winter 2020 – Estimated completion and apartments available for lease

 


Supporting Documents

360 Hilliard Staff Report

Development Plans for 360 Hilliard

Elevation Drawing

 


Contact Information

Nikki Reid, Real Estate

Andrew Mayronne, Community Development

 


 

Related Services

code purple text
Cold weather emergency shelter

When extreme cold weather is expected, the Asheville Homeless Coalition issues a Code Purple Alert. Participating homeless shelters voluntarily add space beyond their normal capacity to keep as many people as possible out of the cold. To find out when Code Purple is in effect, visit the Homeless Coalition’s Code [...]

360 Hilliard Development Process News

Asheville Mardi Gras Parade
Asheville Mardi Gras Parade returns to South Slope, bringing fun along with traffic/parking impacts

    This Sunday, Feb. 23, the Asheville Mardi Gras Parade  returns to the South Slope. The parade begins at 3 p.m. Lineup and float assembly will take place in surface parking lots along Asheland Avenue. The parade begins on Hilliard Avenue at Asheland Avenue, down south Coxe Avenue and wraps along the streets of [...]

Charlotte Street road diet art
Charlotte Street Road Diet construction begins

  Initial phase will be sidewalk work   The construction phase of the Charlotte Street road diet is scheduled to begin in February and continue through May.   The first phase of construction will entail a lane closure as contractors reconstruct portions of the sidewalk on the north end of Charlotte street near Edwin Place. Once complete, repaving of the [...]