Arizona Housing Fund Raises $1.3M for New Affordable Housing Development
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.