Arizona Housing Fund Partners with Multifamily Industry to Fund Affordable Housing Projects

inbusinessPHX.com

Arizona has a homelessness crisis and members of the Arizona Multihousing Association are coming together to launch the Arizona Housing Fund Application Donation program, a voluntary initiative to help fund more affordable housing for those who need it most.

Participating multifamily property owners and management companies are donating $5 for every lease application they receive to the Arizona Housing Fund, housed at the Arizona Community Foundation. Residents may also round up their monthly rent to the nearest dollar or donate a specific amount to the Arizona Housing Fund within their online payment portal. Every dollar donated will support established nonprofits dedicated to building more affordable housing options for the state’s most vulnerable populations, including seniors, veterans, and those suffering from mental illness.“We have far too many people in our state who are living unhoused,” says Arizona Housing Fund Advisory Committee Member and the developer of the FOUND:RE Phoenix Hotel, Portland on the Park condominiums, and the ECO PHX and ECO MESA sustainable apartment communities, Tim Sprague. “The multifamily industry is in the business of housing, and this program creates a sustainable source of funding for affordable housing projects with support services that will help people get off the streets permanently.”The collaborative effort between The Arizona Multihousing Association (AMA) and the Arizona Housing Fund program was first piloted by NexMetro Communities, the nation’s leading developer of single-family rental neighborhoods. In 2022 and Q1 2023, NexMetro donated over $21,000 from application fees and individual resident donations to the Arizona Housing Fund.“We’re in the shelter business,” says NexMetro Communities CEO Josh Hartmann, “and supporting nonprofits to build more permanent affordable housing in Arizona aligns perfectly with our core values. Our partnership with the Arizona Housing Fund is a way for us to give back to our community in a meaningful way as a neighborhood developer.” Hartmann said it was important to NexMetro to not only support AHF as a company, but to create a vehicle to educate the public about the giving opportunities. “Our Avilla Homes residents really love that there’s an opportunity for them to give back to their community. Our goal was to make it easy for them to support the great work of the Fund in reducing the number of people experiencing homelessness.”P.B. Bell is among the AMA members participating. “Tim gave me a call regarding this program, and we jumped at the chance to participate,” says P.B. Bell CEO R. Chapin Bell. “As of August 1, P.B. Bell residents at participating communities are able to make a donation when paying their rent.”“Helping residents find homes and stay in their homes is what makes the Arizona housing industry tick,” says Courtney LeVinus, the President and CEO of the Arizona Multihousing Association. “This creative partnership will make a tangible difference to people struggling to meet their rent, and it gives everyone who wants to help solve our state’s rental housing crisis a simple, actionable way to help individuals and families in need.”

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