“The 88 Group invests in affordable housing and other assets to improve economic opportunities of low income persons and communities.”
Preserving Affordable Housing
As a mission driven low-profit private developer, one of our key priorities at the 88 Group is the development and preservation of affordable and sustainable housing in Pueblo, Colorado. We also actively engage and partner with non-profit and other public benefit organizations for the purchase and/or construction of housing projects that serve low-income populations throughout our community. Residents must have access to housing in order to ensure stability and sustainability for the future. We are also actively studying opportunities in the development, redevelopment and/or renovation of commercial real estate in targeted neighborhood revitalization areas.
“We also know that creativity has impact...creative activity in low-income communities can strengthen economic development, encourage civic engagement, build resiliency, and contribute to quality of life. The presence of cultural resources in low-income neighborhoods is “significantly” linked to better health, schooling, and security.”
Neighborhood Revitalization
Our real estate projects aim to spur and support economic growth and prosperity in targeted neighborhood revitalization areas. We are committed to achieving positive community outcomes with our solutions in the following areas of focus:
Improve low-income and distressed communities for the benefit of low-income residents
Support and enhance other affordable housing, community facilities and revitalization projects in the same neighborhood
Contribute to or support transit-oriented development projects benefitting low-income residents and communities
Provide a catalyst for the elimination of slum and blight and neighborhood revitalization
Provide quality of life improvements to low-income residents through improved access to healthy foods, healthcare, education and other essential services
Low Income Housing Tax Credit (LIHTC)
The Low-Income Housing Tax Credit (LIHTC) is the most important resource for creating affordable housing in the United States today. The LIHTC database, created by HUD and available to the public since 1997, contains information on 45,905 projects and 2.97 million housing units placed in service between 1987 and 2015. Created by the Tax Reform Act of 1986, the LIHTC program gives State and local LIHTC-allocating agencies the equivalent of nearly $8 billion in annual budget authority to issue tax credits for the acquisition, rehabilitation, or new construction of rental housing targeted to lower-income households.
Housing Opportunities
Low Income
Finding affordable housing has become a priority in our local economy in Pueblo and throughout the USA. With the lowest vacancy rate in Colorado at approximately 1.7%, Pueblo cannot grow its local economy if it cannot provide housing options for the homeless or even the wealthy.
The local government and other business promotion and recruiting organizations in Southern Colorado continue to offer incentives for companies to establish operations locally, but if there is a housing shortage it is unlikely that a firm will make an investment in the local economy when housing is in short supply.
Residents must have access to housing in order to ensure stability and sustainability for the future.
Senior Living
The cost to rent or purchase housing is becoming increasingly less affordable to millions of people, both for those on fixed retirement incomes as well as those who have not yet reached retirement.
While Pueblo Sustainable Solutions L3C aims to provide housing units for persons with disabilities and for low-income families, a large portion of our attention is on housing units for older adults who have a fixed income.
Pueblo is consistently included in Top 10 listings for affordability for seniors and coupled with our mild winter climate, bold blue skies and rich arts scene throughout the year, the opportunity to live out ones Golden Years is set.
Residential
Sustainability is the key word driving our housing and shelter solutions today. We use the same guiding principles of smart design and green construction when we are studying the landscape of housing opportunities no matter the size of the wallet of the potential resident.
Our mission is to listen to the needs of the community when considering development, redevelopment and/or renovation of residential properties in Pueblo.
Get to Know the Landscape of Housing Opportunities
Section 8 Housing • The 'Section 8' program (now Housing Choice Voucher) is designed to assist low income families, seniors, and disabled to find safe and affordable housing.
Income Based Housing • Many landlords offer properties at rents proportional to tenant's income in exchange for tax credits.
Low Income Rentals • Low Income Housing includes safe, clean, and affordable apartments, homes, and non profit resources.
Housing Authorities • Most housing authorities provide low rent or even free living options (public housing) for qualified residents.
Subsidized Housing • Some local governments will pay private landlords (sometimes non-profit) in exchange for affordable rents for low and moderately low income people
Low Income Apartments • Find HUD, low-income and income based affordable apartments in Pueblo and beyond.