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North Carolina Central University head basketball coach LeVelle Moton is giving back to his hometown in a big way. Moton, who grew up in Raleigh, North Carolina, is moving forward with innovative ideas to provide affordable housing in his community. Working with some of the community’s most prominent organizations, Moton’s company, Raleigh Raised Development, has secured $8.3 million to build a development known as Cottages of Idlewild.
“It brings me profound relief,” Moton said, according to The News & Observer. “I’m a son of the Idlewild community. These neighborhoods hold rich histories.”
For the past five years, Moton has been working toward his vision of bringing 18 affordable homes to the historically Black neighborhood where he grew up. The project, which will break ground this summer, is expected to take about 18 months. While he aims to provide affordable housing, Moton is also fighting against gentrification.
“I’ve witnessed people try to infiltrate our neighborhoods and profit,” he said. “For me, it’s deeply personal. I’m fueled by a deep sense of responsibility.”
Moton’s development will include four rental units for residents who earn about $23,800- $81,600, which is the median income in the area. The project also features 14 for-sale homes, including two and three-bedroom houses for first-time homebuyers. According to Raleigh Area Land Trust, one of the partners involved in the project, people who want to own one of these homes can have a mortgage “as low as $145,000.” Buyers are also required to agree to the community land trust model, meaning the trust will have permanent ownership of the land. Buyers will lease the land for about $50 a month, agreeing to a term of 99 years.
The Idlewild community was founded in 1910. At that time, the historical neighborhood became one of the first places in the city where former slaves were allowed to own homes. However, rising property values have made it difficult for residents to thrive.
Moton has now received funds from the NC Realtors Housing Foundation, Wells Fargo Foundation and Coastal Credit Union Foundation as he moves forward with the Cottages of Idlewild project.
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