Local opinion: Support affordable housing by supporting Prop 414

A well-known mantra in public policy circles is “Don’t let the perfect be the enemy of the good.” I am reminded of this when I hear objections to Proposition 414 coming from some well-meaning housing advocates.

I have worked for nearly 40 years in both the nonprofit and the private sectors to finance and create affordable housing. As a developer of affordable apartments for families and seniors, I understand the vital role of housing in sustaining and driving economic growth.

If passed, Proposition 414 will provide nearly $13 million each year to create new and preserve existing affordable housing and fund shelter operations, including $2 million for a gap financing pool for new and renovated housing. Construction and financing costs have risen dramatically since the pandemic, and this gap financing will help make up the difference and allow apartment rents and home purchase prices to be as low as possible. The projects my company has completed and the one now under construction all have rents far below market levels and include units that are or will be occupied by formerly homeless individuals and families. The project we are now building will have 22 apartments that are set aside as supportive housing for formerly homeless seniors. These residents cannot pay rents high enough to support conventional financing. The gap funding made available by Proposition 414 would make more projects serving our lowest-income renters feasible.

Proposition 414 will also help the city modernize and maintain its own stock of affordable housing that serves our lowest-income neighbors. It will help low- and moderate-income homeowners pay for repairs and energy efficiency and provide downpayment assistance to help move families into homeownership. These and the other housing investments made possible by Proposition 414 will increase the access by Tucson’s workforce and seniors to the secure housing they need to thrive. That, in turn, helps Tucson thrive.

Beyond housing, Proposition 414 also funds workforce development and early childhood education, creating opportunities for individuals to build skills and contribute to our local economy. It will enhance public safety by expanding the resources available to our first responders. A skilled workforce and a safer city attract businesses and strengthens our economic foundation.

Some advocates oppose Proposition 414 because they feel it has too much funding for public safety and not enough for housing. Would I, as an affordable apartment developer, like to see more dollars go to housing? Of course. If the Proposition is rejected by the voters, however, there will be zero new funding for affordable housing as well as nothing for public safety. Do these advocates think that a future election on a hypothetical proposal that reverses the allocation between public safety and housing would have a better outcome? That is not a bet that I believe supporters of affordable housing should make. To quote an ancient aphorism, “Better a diamond with a flaw than a pebble without one.” Please support affordable housing in Tucson by supporting Proposition 414. To end as I began, don’t let the perfect be the enemy of the good.