We've all been reading the articles about Phoenix's great job growth and how this will benefit the local economy to the point that we will be outperforming the national economy in the future. The one thing that continues to be the "BUT" in these articles and reports is the amount of affordable housing. With the recent run up in real estate values over the past several years the amount of affordable housing is less readily available.
A Tempe developer is in the initial planning stages of a project that would provide affordable housing (owner occupied as well as rentals) near the downtown Tempe area.
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Look for more and more developers to target this market segment and attempt to provide affordable housing in the Phoenix and surrounding areas in the future.