REXBURG––A new affordable housing complex is opening its doors on Wednesday at 10 a.m. in Rexburg. The new location is off 1st W., kitty corner to the Neutral Zone and Rexburg Rapids.
Summit Housing Group (SHG) is building not one, but two projects in the Rexburg area. That’s because of high demand for the low-income tax credit (LIHTC) developments.
According to summithousinggroup.com, SHG is based out of western Montana and has 35 properties in Montana, South Dakota, Utah, Colorado and Wyoming.
Renee Franco, the vice president of Highland Property Management, says the project came to town because of high demand.
“We are always looking for communities or areas that have a need for affordable housing,” Franco said.
SHG came to town because it was a perfect match for the group’s criteria. They invest their properties in areas that have LIHTC demand.
Resident rent is restricted because of SHG’s partnership with the Idaho Housing and Financing Agency and the U.S. Department of Housing and Urban Development (HUD). Franco says that’s how they allow affordable housing.
They look at the area of medium income. That’s how they determine the restriction.
“What we’re seeing is a lot of two parent households, both working, and maybe the jobs aren’t high grossing pay jobs; several children in the household and their income just isn’t enough to allow them that comfortable lifestyle in the market rate – this is where we come in,” Franco said.
Franco says they see a lot of young couples but most of all, families. That’s because the job market hasn’t kept up with the market prices. They benefit not only the local students but the low-income families in the area.
What sets SHG apart from other affordable housing projects is they build with higher quality materials, Franco said. For example, many market priced options have rock countertops or nice trims. SHG wants to stay at that level.
“Just because it’s affordable, doesn’t mean lower price point appliances,” Franco said.
They offer stainless steel appliance packages, fans in the bedrooms, hard surfaced countertops and laminate flooring.
SHG also allows what may be less common in market-priced areas: fee-free pets.
“Every family can deserve to have the comfort of a pet and whether it be a service animal or just a pet family, we want to treat everyone the same,” Franco said.
Karen Martin is the regional manager and compliance officer for SHG. She says her focus is caring for their residents and providing quality customer service.
“[If] issues that might arise that we are addressing those in a timely manner,” Martin said.
SHG has a policy of a 24-hour correction. They don’t want to let problems go unnoticed. Martin says they want to retain their residents, and they do that by providing them with a safe and comfortable living environment.
Franco says the new development is popular with new resident applications pushing them toward full capacity.
“We’re preleased at 97-98% already,” Franco said.
The complex features a club house, fitness center, outdoor grass area for pets to play, a playground, pavilion, a grill and other amenities.
The Summit is holding its open house on Wednesday at 10 a.m. at 155 N. 1st S. in Rexburg. The community is invited to tour the new building.