Who needs Affordable Housing?
Families who pay more than 30 percent of their income for housing are considered cost burdened and may have difficulty affording necessities such as food, clothing, transportation and medical care. HUD estimates 12 million renter and homeowner households now pay more than 50 percent of their annual incomes for housing. A family with one full-time worker earning the minimum wage cannot afford the local fair-market rent for a two-bedroom apartment anywhere in the United States.
New development and revitalization around the Barelas neighborhood has created a net loss of housing stock, an increase in real-estate values, and higher property taxes. Barelas residents are concerned about the limited availability of affordable housing, abundance of absentee-ownership, and substandard condition of older homes. These very real concerns are a cause for residents to want to relocate outside of the neighborhood.
The Coalition is aware of these gentrification threats and is working to providing affordable housing to Barelas residents. Barelas Affordable Housing Program aims to implement an acquisition/rehabilitation program in the community land trust model. The program will build permanently-affordable homes and acquire and renovate existing housing to become permanently affordable right here in the neighborhood.