The average apartment rent in Charlotte, N.C. has increased by 35% in the past five years, highlighting the city's growing affordability problem. Charlotte Observer staffer Ely Portillo notes that people see the problem but disagree on whether the city should loosen regulations or impose more requirements in order to build more affordable housing units.
The White House issued a report suggesting Charlotte loosen its land-use rules to increase the supply of housing and drive down its price, while also considering affordable housing mandates. Former Bank of America chairman Hugh McColl Jr. and former mayor Harvey Gantt would both support an ordinance requiring developers to set aside a certain percentage of new projects for affordable housing:
“I’d like to see that made a city ordinance that you have to build,” said McColl, one of the main architects of Charlotte’s rise...“If you’re going to build 150 units, at least 15 of them should be affordable,” Gantt, who was the city’s first black mayor when he was elected in 1983, said at the Chamber forum.