Low vacancies means Brothers bucking regional trend
According to a report released by the Colorado Division of Housing last week, vacancies of affordable apartments across the state rose 6.3 percent in the second quarter of 2009 compared to the same period just a year ago.
On average, vacancy rates at Brothers Redevelopment’s 11 federally subsidized complexes for low-income, elderly and disabled residents hover just below two percent.
Located throughout the Denver area and in Adams County, our 495 units are in demand. Tenants in these units pay a percentage of their income and get a nice place to live, preserving their dignity and avoiding substandard housing and in some cases, homelessness.
Waiting lists to live at some of our properties stretch for several months and the instant a unit becomes vacant there is a client waiting to move-in.
We think our low vacancy rates speak to the quality of our properties and the strength of our stewardship. Resident safety and comfort are our top priorities. Our properties are clean and well-groomed both inside and out.
And though we offer independent living, we still try to work with other nonprofits to offer additional services and activities that our residents find appealing.
While we’re proud of our low vacancies across our portfolio, we’re also challenged by our limited capacity. As an organization, we’re always looking to add new properties.