Sustaining Thriving Communities
Demand for affordable housing will outpace supply for the foreseeable future. Fitch Irick Corporation is committed to preserving the limited stock of existing affordable housing.
Utility costs are a large component of residents’ housing budget. Fitch Irick Corporation uses Green Building techniques to assist with rising utilities costs.
Generally, new high quality housing increases property values considering we are housing residents that already live and work in the community. Most of our housing developments complement existing property uses in the neighborhood and in many cases we are redeveloping underutilized parcels or vacant buildings
Many studies suggest that affordable housing doesn’t increase crime but the best way to ensure any real estate asset doesn’t increase crime is through proper management. All of our residents go through credit and criminal background checks prior to signing a lease. We are committed to ensuring our properties enhance communities.
The vast majority of the housing in our portfolio cannot be distinguished from conventional apartment complexes. We invite you to browse through our website and view the types of properties we build, manage, and own.
Our residents are housing cost burdened and earn less than the area median income. Most residents that live in affordable housing are employed, disabled, or retired. We serve individuals, families and seniors whose income for various reasons doesn’t afford them sufficient decent housing options.
Most of the new affordable housing being built today is financed utilizing the Low-Income Housing Tax Credit (LIHTC), which is a public policy program enacted under the Tax Reform Act of 1986. The Low-Income Housing Tax Credit is regulated by Section 42 ofthe Internal Revenue Code and it provides an incentive for private developers to build affordable housing communities
