Winston-Salem Council forgives lien, paves way for its first housing co-op

The Winston-Salem City Council recently approved forgiving a lien on a downtown property that could pave the way for a new cooperative community.

The Spring Street Co-op was spearheaded by the advocacy group Housing Justice Now to purchase and transform 207 N. Spring Street into affordable homes. At its recent meeting, the city council voted 6-1 to forgive a lien of nearly $157,000 on the property with Councilmember Jeff Macintosh voting against it.

At an earlier committee meeting in August he said he had concerns about the cost to rehabilitate the currently vacant space.

Mayor Pro Tem D.D. Adams said before city council last week that in order to address affordable housing it's going to take a multifaceted approach.

"It's not just a city municipal government problem or issue, it's an everybody issue," Adams said. "And unless we collaboratively work with private sector, banks, businesses, nonprofits and all of that, federal government, the state, everyone, this deal is not going to get better."

The Spring Street Co-op has previously said the plan is for the units to be for those making 30% to 50% of the area median income.