“How can we mitigate the challenges of student housing-oriented gentrification?”
Client: Self Help Credit Union
Team Members: Karen Beck Pooley, Charles Buki, David Boehlke
Services: Housing Analysis, Strategy Development, Community Engagement, Facilitation, Report Creation
The Center for Community Self-Help is a community development and real estate lender based in Durham, NC that has provided more than $6.8 billion in financing since its founding in 1980.
In 2012, czb was hired by the Center to provide a market analysis and strategy framework for Northside, the largest historically African-American community in the Chapel Hill and Carrboro area. The Northside neighborhood had been losing longtime residents and experiencing real estate pressure from the rapidly expanding student housing rental market at the University of North Carolina at Chapel Hill.
czb’s findings and report were used to develop a housing market action plan for the Northside neighborhood. We used a mixed method approach for the neighborhood housing analysis, including interviews with community leaders and residents and an analysis of quantitative data from town and county records, real estate sales transactions, and Census data.
The Northside Neighborhood Initiative continues to make progress towards the goals outlined in czb's final report.
The creation of a “Northside Lank Bank” that will acquire properties and maintain them until they are ready for conversion to homeownership or rental housing, consistent with the goals of the community.
czb’s final recommendations included actionable steps such as developing a new housing product and marketing campaign in Northside and establish a revolving loan fund in partnership with the university. Our recommendations were incorporated into a strategic planning document that was used to shape community decision-making in Northside. As a result, the university financed a $6 million revolving loan fund, designed by czb and managed by Self Help, designed to spur low-income homeowner rehabilitation and mixed-income infill development.