In  Nov. 2024, Tempe voters approved a $32 million bond to increase the supply of affordable housing in Tempe. Bringing the bond to voters was driven by Tempe's desire to create an inclusive environment where everyone, regardless of age or circumstance, can find secure and affordable housing options in Tempe.

Voter-approved bond funds enable Tempe to bolster the availability of housing that specifically supports lower-income households. This investment is intended to accelerate the vision of a Hometown for All, fostering a safe, livable and accessible community for residents of all ages.

In January 2026, Tempe made its first investment using bond funds to purchase the Big Lots property in south Tempe to co-locate affordable housing and a fire station.