A NEW 84-UNIT AFFORDABLE MULTI-FAMILY DEVELOPMENT IN WAYNESVILLE, HAYWOOD COUNTY
OnDecember 11th, 2025, Mountain Housing Opportunities (MHO) closed financing for Balsam Edge, an 84-unit affordable housing community located on a new 5-acre site at Howell Mill Road in Waynesville, North Carolina. This marks a significant milestone as MHO’s first rental investment in Haywood County. This highly walkable, amenity-rich community will feature 1, 2, and 3-bedroom units and will serve renters who earn from 40% to 60% of Area Median Income (AMI).
Affordable housing remains the most pressing need in Western North Carolina, especially as recovery efforts continue across the region. The Balsam Edge development demonstrates MHO’s commitment to expanding affordable housing throughout communities where the need is urgent. This project will provide more than just housing; it represents hope and stability, offering families and working individuals in Waynesville a safe, stable, and affordable place to call home while supporting the long-term recovery and resilience of Haywood County.
“In the Town’s 2035 Comprehensive Plan, Waynesville set a goal to create needed housing for working families. Mountain Housing Opportunities pursued NC Low Income Housing Tax Credits and other grant resources, and worked through the Town’s development approval process to create these 84 new units,” said Elizabeth Teague, MHO Board Member and Waynesville Development Services Director. “I appreciate the commitment and experience MHO shared in bringing this affordable housing opportunity to Waynesville.”
Balsam Edge received funding through a 9% Low-Income Housing Tax Credit Award (2022), $7 million from the Self-Help WNC Affordable Housing Loan Fund, disaster relief funds from NeighborWorks America, and a $3.5 million CDBG-DR grant from the NC Office of Recovery and Resiliency (NCORR), secured as part of the Tropical Storm Fred disaster relief efforts, to expand affordable housing in Haywood County.
“Haywood County is thankful for our partnership with MHO and their commitment to expanding rental affordability in our community,” said Kevin Ensley, Chairman of the Haywood County Commission. “Their team has been great to work with – highly knowledgeable, collaborative, and consistently responsive to the county’s needs for low and moderate-income housing. This project is another important step in reducing our local housing deficit and supporting the residents who call Haywood County home.”
The project’s financing partners are Bellwether Enterprise, CAHEC, CFWNC Pigeon River Fund, Dogwood Health Trust, NCORR and Haywood County, the NC Housing Finance Agency, NeighborWorks America, and the Self-Help Venture Fund. Housing Studio serves as the project’s architect, Civil Design Concepts serves as the civil design partner, and WEAVERCOOKE serves as the construction partner and general contractor.
Construction is set to begin in 2026. Balsam Edge is tentatively slated to open in the winter of 2027. Interested tenants are encouraged to contact Partnership Property Management at 828-575-2323 for information on the waitlist. A groundbreaking ceremony will be hosted in the first half of 2026. More details will be shared in the new year. Please contact Allison Rollison at allison@mtnhousing.org if you would like to be added to the groundbreaking list.