Is Charlotte’s housing trust fund working 20 years later?

Charlotte’s Housing Trust Fund, the city’s largest investment to address one of its most unrelenting issues, turns 20 this year.

Despite a massive investment of nearly $219 million — put toward 139 projects over two decades to build or save affordable housing in Charlotte — the need keeps growing.

This is especially true for residents with the lowest incomes.

While the need is greatest at the lowest end of the income spectrum, more than half of the housing created or preserved by the trust fund is intended for those earning at least $35,400 a year (or a household income of $50,520 or more for a family of four).

Since 2002, the trust fund has supported the creation or preservation of 10,818 affordable housing units and 888 shelter beds. And despite that massive investment, the need for more affordable units is substantial and dire.

Which prompts the question: what do the next 20 years of affordable housing policy in Charlotte — including its signature tool, the trust fund — look like?

Observer staff writer Lauren Lindstrom spoke with advocates, developers and city officials about the fund and whether a $50 million bond is enough.

Top civic leader to retire

Michael Marsicano took the helm of the Foundation for the Carolinas in 1999, when the Charlotte-based nonprofit ranked 35th in the country with just $245 million in assets. Twenty-three years later, the foundation is now the nation’s sixth-largest community foundation with nearly $4 billion.

Last Tuesday, the 66-year-old Marsicano, long regarded as one of the city’s top civic leaders, announced his plans to retire next January.

“I think the time is right,” Marsicano told the Observer. “The foundation’s never been stronger.”

The nonprofit foundation gives out hundreds of millions of dollars in charitable donations each year and is known for supporting civic projects across the region.

COVID realities: Parents vs. everyone else

While the better part of the first year of the coronavirus pandemic unsettled jobs, home life and social connections for everyone, what’s emerged more recently is a dual reality: Society has largely moved on to the new normal, but parents are still living by an older set of rules.

In some families, the extra restrictions placed on students, teachers and schools leave them frustrated. In other instances, families are relieved there are still rules. In all cases, they’re exhausted.

“We’re all trying to find what normal means for parenting right now and as we go forward,” said Erin DeWaters, a Huntersville mother and executive. “Parents have always, and will forever, worry about their children, but the nature of the worry has changed. And this new consideration set seems to be here to stay.”

The Gastonia Alps?

While driving to Charleston, 26-year-old Olivia Garcia of Florida found a TikTok video of a small pastoral village surrounded by snowy mountains labeled “Gastonia, NC.” Mesmerized by the picturesque scene, she convinced her family to make a detour.

What Garcia did not know is that the TikTok was actually a video of Lauterbrunnen, Switzerland.

The culprit behind the TikTok was 22-year-old Zachary Keesee of Durham.

“I told her I was sorry on her video,” said Keesee, who’s posted several “Not Carolina” videos over the past several weeks.

“She seemed to take some humor out of it, and said it was OK.”

Things to know

Some of the headlines from the Observer’s service journalism team. Look for these stories at CharlotteObserver.com:

▪ Could a new COVID variant identified in NC spread faster than omicron? Doctors are exploring

▪ Tax season is upon us. Here’s what to know before filing your 2022 return in NC this year

▪ Want to help North Carolina’s elections run smoothly? How to apply to be poll worker

▪ Flight in or out of Charlotte airport canceled or delayed? These are your options

They Said It ...

“I think that it’s the most important thing in my life.”

Expectant dad Sergio Ruiz, who signed with Charlotte FC 18 months ago. Ruiz and his wife are expecting their first child on or around March 5, when Charlotte is slated to play its home-opening match.

Compiled by Rogelio Aranda

This story was originally published January 30, 2022 at 6:00 AM.