TWIN FALLS, Idaho — If you travel on Kimberly Road, you've no doubt seen the three apartment buildings under construction at the corner of Hankins Road. The Alder Apartments are designed to be affordable housing, and it's part of a series of workforce housing projects underway in the state.
Idaho's rapid growth has led to a housing affordability crisis, prompting efforts to build more workforce housing.
The Idaho Housing Finance Association's mission is to make affordable safe housing available for all Idahoans. Idaho News 6 spoke with Jason Lantz from the Idaho Housing Finance Association who helped put the cost of rent into perspective.
"Approximately 22% of the 200,000 renters spent 50% or more of their income on rent," Lantz said. "In fact, almost half of renters in Idaho are cost-burdened."
In 2022, the Idaho Legislature seeded the Workforce Housing Fund with $50 million in ARPA funds, which IHFA has used to help get 17 projects underway in 11 Idaho communities around the state.
Some of that IFHA funding reached The Housing Company, which will own and manage the Alder Apartments. Rents are fixed at an affordable rate and are aimed at providing housing for people earning upwards of 60% of the Area's Mean Income. Put in perspective, that's about $35,000 per year for a family of one, or $45,000 a year for a family of two.
"(That's) teachers, entry-level nurses, entry-level firefighters, entry-level policemen ... retail employees, restaurant employees — people that work in our community," said Tiffany Hapner from The Housing Company.
The Alder Apartments project is part of a statewide effort to provide affordable housing for Idahoans, allowing them to live near their workplaces. The development will offer 72 units, with 1 to 3 bedrooms. The first building will be ready for move-in starting in April, with the other two to follow in June and July, respectively.
Information about how to apply can be found at The Housing Company's website.
