Avenue has embarked on an initiative to save NOAH in Houston. So what exactly is a NOAH?
Naturally Occurring Affordable Housing (NOAH) comes in the form of unregulated, privately-owned apartments that are at risk of rapidly escalating rent or redevelopment. These properties are often home to people with disabilities, seniors, people of color and other populations vulnerable to displacement.
The issue is particularly acute in gentrifying neighborhoods, where low-income renters may be priced out of their communities, where they may have family, employment or established support networks.
Avenue created a $5 million Social Impact Fund to acquire and preserve these types of properties and prevent displacement of current tenants. Read more here.