In April, Cary Town Council approved the 2024–2025 Cary Housing and Community Development Block Grant Annual Action Draft Plan, which recommends awards totaling over $7.2 million. This blend of federal and local funds will facilitate the construction of 226 new affordable-housing units and the preservation of 29 existing affordable homes. The awards will also assist 446 people in maintaining housing stability and build organizational capacity for Cary nonprofits focusing on housing and community development. Cary submitted the draft plan to the U.S. Department of Housing and Urban Development and received approval, including an increase in Cary’s federal funding this year. Rooted in partnerships and a people-first approach, this investment will further the goals of the Cary Housing Plan and the Imagine Cary Community Plan and ensure all Cary residents can enjoy the high quality of life Cary has to offer.

Cary issued 109 permits for new detached residential homes and townhouses in Q4. The top subdivisions permitted were Alston Landing (20), Young Farm (17), Courtyards at Lochmere (17), and Mews at Preston Ridge (16). Although permits for detached homes and townhouses increased slightly, by three permits or 3%, from Q4 of FY 2023, overall permits decreased 28.29% compared with the three-year Q4 median of 152.

Cary issued 78 certificates of occupancy (COs) in Q4, an average of 1.2 certificates per workday. This number is 23.5% less than the 102 COs issued in Q4 of FY 2023 and less than half of the three-year Q4 median of 223. The subdivisions receiving the most COs were Courtyards at West Cary (9708 Morrisville Parkway) with 24, Young Farm (404 Gilmore Bridge Drive) with 19, and Courtyards at Lochmere (5100 Lilly Atkins Road) with 11.

Cary also issued two permits for 143 multifamily units. These permits were for two of the eight planned buildings at the Alston Apartments site at 3025 Alston Manor St. — Building 1 (65 units) and Building 3 (78 units). 

In Q4, Cary issued 483 permits for alterations and additions to existing single-family structures with the scope of these projects totaling 176,914 square feet. This is an increase of 62 permits, or 16.2%, from Q4 of last year. The average estimated construction cost, which is supplied by the contractor, was $51,372, an increase of 2.2% from the three-year median of $48,240.