The Hailey Planning and Zoning Commission has approved the construction of an eight-unit apartment complex to be built in the Woodside subdivision. The Wood River Valley has suffered in recent years for its lack of affordable housing.
The new construction is part of an effort to create more affordable housing in Blaine County, where rental rates have exploded over the past two years. The ARCH Community Housing Trust is funding the construction.
Executive Director Michelle Griffith says investors bought up foreclosed properties during the Great Recession.
“The investors have the opportunity, which is understandable because that’s the way the…
Read the entire article on Boise State Public Radio.
Correction to the article: The story ends with a statement that we used federal tax credits. That is not correct. The funding came from the Federal HOME program.