An organization operating within Pima County, Arizona, addresses affordable housing challenges through a unique approach. It acquires land and retains ownership, granting long-term leases for residential properties built upon it. This model separates the cost of the land from the cost of the home, thereby making homeownership more accessible to individuals and families with limited financial resources. Example activities include acquiring parcels of land, facilitating the construction of affordable homes, and managing long-term leases with qualified homeowners.
The significance lies in its role in fostering community stability and economic empowerment. By ensuring perpetually affordable housing options, the entity helps prevent displacement and promotes long-term residency. This contributes to neighborhood revitalization and strengthens the local economy. Historically, such organizations have emerged as vital tools in addressing housing affordability crises, often proving more resilient than market-based solutions during economic downturns.
