Phoenix has exceeded its goal of creating or preserving 50,000 housing units by 2030, reporting more than 71,000 units six years after launching an initiative to expand the city’s housing supply.
But the city’s latest figures also illustrate a continuing problem: Most of the housing added since the initiative began has been market-rate or workforce housing, while Phoenix faces an estimated shortage of 59,000 affordable rental units for lower-income households.
The contrasting figures were presented to City Council Oct. 27 as officials reviewed the Housing Phoenix Plan and discussed how to distribute approximately $15 million available through the city’s Housing Trust Fund…