Affordable housing could be created by NOAHs
By Hicbd
Thu Jan 28 2021 4:23 pm
"But Ethridge had an unusual solution: he wanted to buy the property, fix it up, and keep the rents affordable through a 20-year deed restriction that places legal rules on how the property can be used and priced. Knowing the demand for this tier of housing and the small but steady returns they could provide, Ethridge saw apartment complexes like Lake Mist as long-term plays. They’d provide a slow and reliable return, with the added benefit of helping to combat the city’s affordable housing shortage."
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