5 affordable single-family homes to be developed in El Mirage due to federal grant
Apr 15, 2024, 8:00 PM
The city of El Mirage is increasing its housing availability with the addition of five affordable single-family homes. (Pexels Photo)
(Pexels Photo)
PHOENIX — The city of El Mirage is increasing its housing availability with the addition of five affordable single-family homes, officials announced.
Through a partnership between the city and Maricopa County, $1 million in American Rescue Plan Act (ARPA) funding will be used to acquire and rebuild about fives homes on a community land trust (CLT), according to a press release.
The homes will be sold to eligible homebuyers earning at or below 120% of the area median income, totaling about $112,200 per year for a four-person family.
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Through the CLT, families will pay for the house and not the land it sits on. If the home is sold later on, it will remain affordable because of the CLT.
“Maricopa County is creating pathways to ensure more residents have the opportunity to become homeowners,” Maricopa County Chairman Jack Sellers said in a press release.
“We are breaking down barriers to allow more families to achieve the dream of owning a home, which in turn builds family wealth.”
The developer for the project will offer classes to help families with things like finding money to help with the down payment.
Other affordable housing projects funded by ARPA grants within the last year are located in Goodyear, Avondale, Tolleson and Phoenix.
