The new Inn Town Lofts will provide 56 apartments reserved for low-income households with rents as low from $452 per month.
Lubbock, Texas is joining other cities across the country in converting under-utilized hotels into much needed housing, Citybiz reports. A collaboration of developers and non-profits held a grand opening ceremony last week for the Inn Town Lofts, an adaptive re-use project that turned a historic motel into a 56-unit affordable housing community downtown.
"Texas, like Florida, has a severe shortage of affordable housing. According to the Texas Low Income Housing Information Service, there are just 26 affordable homes available for every 100 low-income households in the state," Citybiz reports. "Inn Town Lofts provides 56 apartments reserved for households earning at or below 30%, 50%, 60% and 80% of the area median income (AMI), with rents ranging from $452 to $1,789 per month – approximately 30% lower than average rents."
Other states, like California, have embraced the hotels-to-housing trend with mixed results.
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