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Local Developer ‘Rounds Up’ for Arizona Housing Fund Program

By June 24, 2022November 14th, 2022No Comments

By Angela Gonzales | Phoenix Business Journal

NexMetro Communities, known among the first in the nation to introduce the build-to-rent hybrid model that combines detached single-family homes in a community rich with amenities, is going for another first.

Phoenix-based Nexmetro is the first multihousing developer to launch a “Rent Round Up” program for the Arizona Housing Fund, that raises money to help build affordable housing units aimed at alleviating homelessness.

The program allows NexMetro’s residents to round up their monthly rent payment to the nearest dollar or donate a specific amount within their online payment portal to assist the housing fund. NexMetro also donates $5 for each rental application received throughout its network of Avilla Homes neighborhoods across metro Phoenix.

Josh Hartmann, CEO of Phoenix-based NexMetro Communities, said he kicked off the program this month at its communities across the Valley.

Of NexMetro’s 17 communities in the Valley, nine are completed and stabilized and eight are under construction, he said. When those eight are completed, NexMetro will have 2,600 homes in the Valley. The average monthly rent is $1,836.

When Hartmann heard about the Arizona Housing Fund’s efforts to raise money to help finance the construction of affordable apartments to help get homeless people off the street, he and his team started brainstorming ways they could contribute.

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