City Place
View of front entrace of City Place Apartments at 802 N. 30th Street in Phoenix, Arizona.
A newly renovated affordable housing community for families in Phoenix, Arizona.
Developed by an affiliate of Atlantic Development & Investments, Inc. of Scottsdale, in partnership with the Greater Phoenix Urban League, City Place includes 134 townhome style units.
The design of City Place features sustainable technology, including zero VOC materials to maintain excellent indoor air quality, dual flush toilets and water efficient plumbing fixtures, xeriscaping, Energy Star lighting fixtures, and a solar panel system that offsets almost 100% of the electrical load for the common areas of the property.
In addition to the physical improvements to the property, the development team has partnered with the Greater Phoenix Urban League (GPUL) to provide a number of on-site support services, including an after school program and financial counseling. GPUL services support low-income residents to follow viable, upwardly-mobile career and life paths by connecting them with financial, educational and employment resources.
City Place represents a financial investment of over $25 million in an area of Phoenix that is undergoing revitalization. It is estimated that the local economic benefits of the project include: $11 million in local income, and 163 jobs. Sources of funding for the project include over $20 million in tax credit equity from Credit Capital, LLC generated by an allocation of Low-Income Housing Tax Credits from the Arizona Department of Housing; construction financing and a permanent mortgage provided by National Mortgage Investors, and $2 million in HOME funds from the City of Phoenix.
City Place Gallery (click on an image to enlarge)
About Atlantic Developments & Investments
For over 25 years, Atlantic Development & Investments, Inc. has been a leader in the development of affordable housing communities. Atlantic has been applauded and recognized not only for the quality of housing developed, but its continuing dedication to the ongoing operation and compliance of its properties. Today, Atlantic is one of the nation’s most successful LIHTC developers.