Foundation for Senior Living to establish affordable housing

Posted 10/26/21

FSL — Foundation for Senior Living —has announced receiving grant funding from the Diane & Bruce Halle Foundation to establish the Diane & Bruce Halle Foundation Affordable Housing Fund.

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Foundation for Senior Living to establish affordable housing

Posted

FSL — Foundation for Senior Living —has announced receiving grant funding from the Diane & Bruce Halle Foundation to establish the Diane & Bruce Halle Foundation Affordable Housing Fund.

The grant will also support constructing 100 units of affordable housing annually that will be available to seniors, veterans and low-income families in Arizona, according to a press release.

“We’re so grateful for the support we’ve received from the Diane and Bruce Halle Foundation,” said Steve Hastings, chief of real estate services, in a release.

“Seniors and low-income families in Phoenix are at a higher risk of becoming homeless as affordable housing options continue to disappear. Our goal is to lessen that risk and the financial burden low-income households are facing.”

Based on rental pricing trends in Arizona, the lack of affordable housing is expected to increase. In 2019, rent in the Phoenix metropolitan area increased by 9.6 percent, the release said.

The National Low-Income Housing Coalition estimates that Arizona has a shortage of 134,758 affordable rental units for families that make 30% of the area median income. In Maricopa County, that would include families that make $23,700 or less per year.

The Diane & Bruce Halle Foundation works with community organizations to reportedly strengthen daily opportunities and lifelong outcomes for the people in Arizona, according to the release. 

The organization supports human services, health and medical, education, arts and culture, and spirituality for underserved populations and communities through grantmaking.

“The Diane and Bruce Halle Foundation supports FSL’s mission to develop more affordable housing in our state,” said Tom Egan, executive director, The Diane and Bruce Halle Foundation.

“We simply do not have enough affordable housing, people in our community are paying 50-80% of their income just to pay rent, it’s difficult to pay for the basic needs when the rent burden is so high.”

FSL has 969 units of affordable housing that calculates rent based on income, including the recently opened Acacia Heights apartments for seniors and 126 energy-efficient, single-family homes for low-income families in South Phoenix.

Eleven townhomes and 12 single-family homes are in the early phases of planning and construction, noted the release.

Learn more about FSL programs/services: fsl.org.

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