Two Phoenix school districts are selling their underused properties to build over 200 units of affordable housing.
You’ve heard of ‘Yes in My Backyard’ and ‘Yes in God’s Backyard.’ How about ‘Yes in My Schoolyard’?
Two Phoenix school districts are partnering with the city to build affordable housing on unused district-owned land. According to an article in The Copper Courier, “The city will serve as an intermediary in these transactions, ensuring the land will be dedicated to affordable housing development through a Land Use Restrictive Agreement (LURA) that mandates affordable housing use for at least 40 years.”
The effort will create 264 housing units in two developments and adhere to federal affordability standards. “The units will be specifically targeted at households earning 80% or less of the area median income.”
The article notes, “The transaction structure complies with Arizona law, which permits school districts to sell property to government entities for public purposes, provided such sales don’t interfere with normal school operations.”
Read the full story: Phoenix school districts convert unused land into 264 affordable homes
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