Affordable Housing in Raleigh: Chapanoke Advances 200 New Apartment Homes
Harmony Housing Affordable Development Inc. (HHAD), Gilbane Development, and F7 International Development have closed on Chapanoke, a new 200-unit affordable housing community in Raleigh, North Carolina.
The development team operates as Raleigh Community Partners LLC. Together, the partners will transform land at 326 Chapanoke Road into a high-quality residential apartment community.
Chapanoke will serve households earning between 30% and 70% of Area Median Income (AMI). The community will include one-, two-, and three-bedroom apartment homes. Residents will gain access to affordable housing without sacrificing convenience or quality of life.
A Community Connected to Opportunity
Chapanoke is the result of years of collaboration and planning among Raleigh Community Partners, Wake County, the City of Raleigh, Wake Technical Community College, and the project’s financing partners. Together, these organizations are advancing a shared vision for affordable housing, sustainable design, transit-oriented development, and greater access to opportunity.
Located next to Wake Tech’s Public Safety Education Campus and near the planned Southern Wake Bus Rapid Transit corridor, the community will be in close proximity to education, workforce training, employment, and future public transportation.
“Chapanoke demonstrates what is possible when public agencies, local governments, and private partners work together with a shared commitment to expanding housing opportunity,” said Tanya Eastwood, President and CEO of HHAD. “At HHAD, we believe every family deserves access to safe, quality housing connected to opportunity. This development embodies that belief by bringing together housing, education, transit, and public investment in a way that will benefit Wake County for decades.”
Construction and Community Amenities
Construction is slated for completion by early 2028.
Once complete, Chapanoke will offer 200 affordable apartment homes and a full collection of resident amenities. The mix of one-, two-, and three-bedroom homes will serve individuals and families with a range of housing needs.
The community will help address Raleigh’s affordable housing shortage. It will also support neighborhood stability and expand access to opportunity throughout Wake County.
The nearly $93 million development was financed through a collaborative combination of public and private capital, including Low-Income Housing Tax Credit equity provided by Greystone Real Estate Capital, private construction and permanent financing from Greystone Housing Impact Investors LP and Citi Community Capital, and subordinate public loans from Wake County and the City of Raleigh. The collaborative financing structure reflects the strong public-private partnership necessary to deliver affordable housing at scale.
“Chapanoke reflects the power of partnership in addressing one of the most pressing challenges facing growing communities today,” said Yarojin Robinson, Senior Vice President of Affordable and Mixed-Income Housing at Gilbane Development. “Through close collaboration with Wake County, the City of Raleigh, Harmony Housing Affordable Development, F7 International Development, and our financing partners, we are committed to creating a community that expands access to high-quality affordable housing while connecting residents to education, employment, and future transit opportunities. We are proud to help deliver a development that will provide lasting value for residents and support Wake County’s long-term vision for inclusive growth.”
Chapanoke represents the kind of development that changes lives, not just skylines,” said James (Monte) Montague, President of F7 International Development. “As a Raleigh-based developer, we understand that affordable housing is about far more than constructing buildings—it is about creating opportunity, strengthening neighborhoods, and ensuring that the people who work in our community can also afford to live here. We are honored to partner with Harmony Housing Affordable Development, Gilbane Development, Wake County, the City of Raleigh, and our financing partners to bring this vision to life. This development demonstrates what can be achieved when public and private partners unite around a shared mission. Chapanoke will provide hundreds of families with access to quality housing, education, employment, and future transit while helping build a stronger, more resilient Wake County. At F7, we believe successful development leaves a lasting legacy, and we are proud to help create a community that will serve residents for generations.”