For the past three years, Arizona homebuyers and sellers have been given the option of adding a $25 donation to their closing costs to support affordable housing development through the Arizona Housing Fund (AHF). With the help of 4,100 individual donors and matches from agencies and developers, AHF has raised more than $1.3 million for the construction of affordable housing units statewide.
The Fund recently awarded $850,000 to four projects that will bring about 200 additional housing units to the state, Axios Phoenix reports.
Why it matters: Arizona is short about 270,000 housing units, which has spiked apartment and home prices and pushed out many middle- and low-income earners.
What they're saying: "It's really something that seems like the whole of our community really embraces. Everyone knows we have such a problem. Everyone wants to be part of a solution and we give people a way to do that," fund founder Howard Epstein tells Axios Phoenix.
Advertisement
Related Stories
Off-Site Construction
Utah Passes Bill to Regulate Modular Construction at the State Level
Goals for housing innovation and affordability meet in the Utah's passage of a new bill that establishes a statewide modular construction program
Affordability
Affordability Improves, but the Average Worker Still Struggles to Afford a Home
Homeownership around the U.S. continues to require historically large portions of worker wages, a new housing-affordability report finds
Housing Policy + Finance
The Garden State Takes a New Approach to Expanding Affordable Housing
Recent legislation in New Jersey could provide inspiration for eliminating affordable housing hurdles in other places with strong housing markets