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THE POSSIBLE HOME

The BOSS Magazine

July 2023

EVERYONE DESERVES A PLACE TO CALL HOME, AND CONIFER REALTY IS DEDICATED TO MAKING THAT DREAM COME TRUE FOR THOUSANDS IN A PAINFULLY EXPENSIVE RENTAL MARKET

In today’s housing market, the gap between what renters can afford and market rental rates has never been greater. Affordable housing has been an industry sector for decades, but in these days of rising mortgage rates and skyrocketing rents, attainable housing has become its own sector. Two decades ago, affordable housing was a real estate product for families, individuals, and seniors earning 60% or less of an area’s median income (AMI), but in recent days has spread out to include a much wider range of earners.

“So many of us in this country are faced with what we now call attainable housing challenges,” Conifer Realty president Sam Leone told BOSS. “You can be earning a really great income and still have a hard time finding a realistic place to live. The world has evolved, and we’re here to be part of the solution to that problem.”

Since 1975 Conifer Realty has been developing, building, owning, and managing multifamily homes with the majority of its past efforts having been made in the affordable housing marketplace. “We work with tax credits and with local municipalities and state agencies to provide rental multifamily apartments to those that otherwise would not be able to afford market rate rents,” he explained.

Today, in some markets renters earning $150,000 may not realistically be able to find a place to live or find a home close to where they work or where their children go to school. Whether as a consequence of gentrification or income limitation, many older adults who want to stay in the neighborhoods where they grew up find themselves displaced – and with few decent alternatives.