99999 State Street

Introducing a rare 10.61-acre development opportunity in the heart of West Asheville—ideally suited for affordable and

workforce housing in one of the region’s most supply-constrained and high-demand submarkets. Located within walking

distance of Carrier Park, the Wilma Dykeman Greenway—offering direct access to the River Arts District— as well as

essential services, transit corridors, and neighborhood amenities along Haywood Road. This site offers the connectivity and

livability critical to successful affordable housing communities. As one of the largest remaining undeveloped tracts in West

Asheville, the property offers a unique opportunity to deliver much-needed housing at scale in an area where attainable

options are increasingly limited. Conditionally Zoned RM-16 (CZ 08-51-010), the site is entitled under Conditional Zoning

Ordinance #3682 (City of Asheville, 2008), allowing for up to 140 multifamily units. Existing entitlements and a prior site

plan provide a meaningful head start, helping reduce entitlement risk and accelerate development timelines—key

advantages for projects utilizing LIHTC or other funding sources. The site’s natural features, including a small creek and

generous open space, create opportunities to incorporate green space, pedestrian connectivity, and community-oriented

design elements that enhance resident well-being while aligning with modern affordable housing standards. Comprised of

seven contiguous parcels, the property offers multiple access points via State Street, Short Michigan Avenue, and Amboy

Road, allowing for flexible site planning and phased development. All major utilities are available at the site, enabling

efficient, cost-effective construction. With sustained demand for affordable housing, strong municipal support for

attainable development, and limited land availability in West Asheville, this offering presents a compelling opportunity for

developers, housing authorities, and mission-driven investors to create a high-impact community while leveraging existing

entitlements and infrastructure to accelerate execution. Please contact Listing Agent for all showings. Also listed at MLS# 4368284