What is Preston Development’s definition of “affordable housing”?

Pittsboro, NC – Last Thursday the Triangle Business Journal held the latest installation of their Corridors of Opportunity series at the Chatham County Agriculture & Conference Center in Pittsboro. A panel discussion centered around Chatham County’s changing demographics, the east/west county divide, megasite activity, lack of affordable housing and more.

Generally, affordable housing is housing which is deemed affordable to those with a household income at or below the median as rated by the national government or a local government by a recognized housing affordability index.

According to U.S. Census bureau data, the median household income for Chatham County in 2020 was $69,799.

One of the homes on sales in Chatham Park.

One of the panelists, Bubba Rawl is co-founder of Preston Development, the Cary-based firm behind Chatham Park. He said 7.5 percent of the residences in Chatham Park neighborhoods will be classified as affordable. That translates to about 1,650 affordable units within Chatham Park.

“That is a bit different than what we’ve ever done,” Rawl said. “We didn’t have any experience on how to craft an affordable housing. We’ve got experts that come in and help us with that.”

What the accompanying article in the Triangle Business Journal failed to note was whether anyone asked Bubba Rawl what the price range was of his definition of “affordable housing.”

Sample Chatham Park real estate listings