"If you count up the number of affordable housing units under the purview of theColorado Springs Housing Authority (CSHA), whether it’s through Section 8 vouchers, public housing units they own and manage, other units they’ve developed and own, or units under outside management through tax credit partnerships, it amounts to a little over 5,700 units in Colorado Springs and the surrounding El Paso County.
'It really takes a big toolbox to try to address a problem that is as pressing and as expensive as affordable housing,' says Chad Wright, executive director at CSHA.
CSHA recently added a surprising new tool to that toolbox: a real estate investment trust (REIT).
In a joint venture announced this month, the housing authority inked a deal involving national affordable housing developer Volunteers of America (VOA) andCommunity Development Trust (CDT), a private REIT and federally certified CDFI (community development financial institution)..."
Read the full story on Next City here.