Apex Housing Update, Mobility Hub

Apex works to update its affordable housing plan, and a location is chosen for a potential future downtown mobility hub.

Last week the Town Council held a work session last Tuesday. Here are the highlights of the things we discussed.

Affordable Housing Plan Update

Key Takeaways: Apex is updating it’s Affordable Housing Plan

Apex is currently in process of updating our Affordable Housing Plan (first adopted in 2021). Stakeholder focus groups have been held, and will continue to be held throughout April. The final updated plan should be ready for adoption in July.

The news here in the presentation was pretty grim; as everyone knows affordability is getting worse - driven primarily by rising interest rates and skyrocketing insurance costs. The proposed solution involves smaller, denser products on the market along with policy changes making it easier to develop.

Abbey Springs

Key Takeaways: The Abbey Springs project has reworked their proposal and is in need of additional gap financing

We also got an update on the Abbey Springs project by the post office. Here, they have been trying to work through a significant funding gap. To do so, they have revised and scaled back their plans to include a smaller senior apartment building and an increase in the support requests from both Apex and the county. This represents a change in plans that residents in Glen Arbor and Amherst should note.

The new funding request (which includes the prior) is $1.47m, up from $1.17m, from both TOA and Wake County - an increase of around $300k. If approved it would come from our Affordable Housing Fund.

Mobility Hub

Key Takeaways: A mobility hub (bus, pedestrian, bike, and eventually rail) is being planned for downtown Apex. The site selected is by the Moore St parking lot, behind First National Bank.

We were briefed on plans for a Mobility Hub, the result of a an NCDOT funded study. The idea is to build a multi-modal downtown “mobility hub” which supports bus, ped, bike, and eventually rail: but considering rail is far off in the future in Apex, the focus in the short term is on the other modes. Think, “Super Bus Station”.

There is no current funding for this project. If built, I anticipate we would get substantial external funding (transportation grants, etc.)

Short version here: a lot of sites were evaluated, but the selected site best suited for this hub is located behind First National off of Moore Street.

The study contemplates building it in stages, adding various modes and bus routes (and eventually rail) as we go. Here are some concept photos.

Downtown Facade Grant

Key Takeaways: The town is accepting applications for the expanded facade grant program downtown.

Finally, a short update on our Downtown Facade Grant Program.

Last year the Apex Town Council made the decision to significantly expand the program, allowing $200k per grant, max $300k per project (a project may be eligible for multiple grants). In exchange we’d get what’s called a “facade easement”.

We intended to award the projects quarterly. To date, we have received no complete applications.

So if you’re a downtown building owner interesting in doing significant work on your building and are willing to grant the Town an easement, contact economic development for more details.

That’s all for now. Town Council meeting tonight where the Social District will be discussed.

-terry