By Colleen Sikora | 12News Phoenix
PEORIA, Ariz. — For five years, Lilli Lanser has called Quail Run Apartments in Peoria home.
Pictures of her family hang on the wall, magnets from her travels cover the front of the white fridge and family heirlooms fill the one-bedroom apartment.
“It’s my home, and these are my neighbors,” Lanser said.
But come March 2024, Quail Run Apartments, will switch from affordable units to market-rate apartments.
The property was built through the Low Income Housing Tax Credit Program, where the government helps pay for the development if the property is kept affordable for 30 years.
However, a loophole in the federal tax code can mean the property can move to market rates as early as 15 years. More than two dozen other complexes in Arizona are currently transitioning to market rates.
Often the complexes charge rent based on tenants’ income, not what the apartments across the street are renting for.
“I can live, I can eat, I can afford my medications, I can afford to go to the doctor, I can put gas in my car,” Lanser said.
