Affordable housing is a challenge, both on a national and local level. While median home value and median rent have increased significantly, average per capita income growth has been slow or stagnant.
In Oklahoma City, the affordable housing crisis means that approximately one in three households have difficulty paying for housing. Oklahoma City is making strides to address the problem with three new developments that offer affordable housing options.
The Commons on Classen, built on the former headquarters of Neighborhood Housing Services, offers affordable housing for seniors. The 48 apartments are offered to residents 62 and older, with incomes of less than 50 percent of area median income. The Midtown location gives residents quick access to shopping, restaurants and attractions. The building recently opened with more than half of the 48 units already leased.
The Douglass and The Douglass Next Door started taking tenants this month. The affordable housing redevelopment is part of the Page Woodson project on NE Sixth Street and N. High Avenue. Once a high school, The Douglass and The Douglass Next Door offer 128 units to residents who make less than 60 percent of area median income.
Read the full article at The Journal Record