Asheville to Launch Funding Opportunities from $225 Million Federal Allocation

Asheville, North Carolina, is preparing to distribute the first round of funding from a $225 million allocation of federal recovery dollars. The city anticipates launching funding opportunities this fall and winter, prioritizing support for small businesses and the construction of multi-family housing.

The funds were allocated by the U.S. Department of Housing and Urban Development (HUD) in January 2025, designated for recovery efforts following Tropical Storm Helene. The significant investment aims to address critical needs across multiple sectors, including infrastructure improvements, economic revitalization, disaster mitigation, and increased housing availability.

Initial programs will focus on providing financial assistance to local small businesses impacted by the storm and incentivizing the development of new multi-family housing units to address the city’s ongoing housing challenges. Further details regarding submission processes and eligibility criteria will be released by the City of Asheville in the coming weeks.

This federal funding represents a meaningful opportunity for Asheville to bolster its economic resilience and enhance its capacity to withstand future disasters. The city is committed to ensuring these resources are deployed effectively and equitably to benefit the entire community.