Last night the Charlotte City Council voted to approve
UDO text amendment 2024-043, effectively limiting the ability for builders to provide housing products to moderate income buyers. We have reported regularly on this topic in recent weeks through other
editions of our "2 for Tuesday." This action has led to even greater uncertainty within the building community and will likely translate into higher housing prices, at least in the short term. Staff is planning to file another measure that will serve as a substitute for the option that was widely utilized by the industry and effectively eliminated by Council. This new text amendment will likely be filed on Thursday with a public hearing slated for mid-June and a Council vote on June 24th. We are currently working with staff to ensure this is a viable tool and that it will assist our members in providing the housing types necessary to meet critical supply demands.
