SALT currently has a portfolio of over 100 affordable single family detached rental homes. We believe that affordable housing does not have to be apartments and that a safe, well maintained home provides tremendous benefits to the residents and the community by providing greater stability, improved health, increased educational outcomes, etc. SALT has a goal. That goal is to have 200 or more affordable rentals by 2020.
In addition to its rental program, SALT believes that home ownership not only provides these benefits, but is instrumental in helping families build assets. SALT provides homeownership opportunities for low to moderate income families by developing properties for sale, acquiring and rehabilitating distressed properties and selectively releasing homes from its rental inventory. All real estate projects require substantial amounts of capital, as quality affordable housing is very expensive. With reduced federal funding for affordable housing, SALT has to rely on other sources to help subsidize the cost of providing new housing opportunities, and the following projects are all contingent upon SALT’s ability to raise the capital necessary to make these projects happen, and be affordable. Projects that are currently in the planning process include:
View Posts about our Projects in the SALTy Blog:
Acquisition and Rehabilitation – In addition to these new projects that are in various stages of development, SALT continues to look for opportunities to acquire and rehabilitate existing homes. The focus is on foreclosures, short sales, and distressed properties allowing SALT to use its expertise in rehabilitation to transform neighborhoods one house at a time. These neighborhood revitalization activities are vital to the recovery of Tucson’s hardest hit areas in the great recession. In addition to its acquisition endeavors, SALT has also been the beneficiary of homes donated by large corporations such as Wells Fargo. These homes are typically in significant disrepair and the transformational achievements that SALT has made are fantastic to see in a “before and after” sense.