Phoenix city leaders have approved a new framework for the Housing Trust Fund, setting a course to tackle one of the city’s most pressing challenges — housing affordability. The policy outlines how the fund will be used to expand access to affordable housing through homeownership assistance, land purchases, development loans, and creative partnerships.
The move comes as Phoenix faces an estimated shortage of 60,000 affordable rental units, a gap local officials say cannot be closed through federal or state funding alone. By targeting unmet needs, the city hopes the Housing Trust Fund will serve as a flexible, long-term tool to bolster both private and nonprofit housing initiatives.
City leaders emphasized that the framework represents a proactive step toward sustaining affordability as Phoenix continues to grow rapidly. The fund is designed to fill critical financing gaps, particularly for projects that might otherwise struggle to secure traditional funding.
“Phoenix is investing in its future by ensuring that affordability remains part of our housing strategy,” officials said in the announcement.
The newly established guidelines will help the city prioritize projects that serve low- and moderate-income residents, while also encouraging innovative models such as community land trusts and mixed-income developments.
More details about the city’s housing initiatives can be found in the In Business Phoenix report.
