Featured Groundbreakings and Grand Openings Around the State
Camelback Pointe - Phoenix
On January 18, Native American Connections hosted a Blessing and Grand Opening for its most recently completed rental project, Camelback Pointe in Phoenix. Camelback Pointe is a supportive housing project serving people who have experienced homelessness. Honored guests and speakers included Phoenix Mayor Greg Stanton, Arizona Department of Housing Director Carol Ditmore, Tad Gary, the Chief Clinical Officer at Mercy Maricopa Integrated Care, and Amy Schwabenlender of Valley of the Sun United Way. Also speaking at the ceremony was a new resident of Camelback Point. In addition to 54 affordable units, on-site services at the property include case management, financial literacy, habilitation/life skills training, job training, and a Resident Services Coordinator. The Arizona Department of Housing’s investment of Low-Income Housing Tax Credits provided more than $10 million in tax credit equity through the National Equity Fund. Other funding for the project came from JP Morgan Chase Bank, the City of Phoenix, the Federal Home Loan Bank AHP, and Native American Connections.
Valor on Eighth - Tempe
On February 23, Gorman & Company, Inc. held a Grand Opening and Flag Raising at Valor on Eighth in Tempe. Valor on Eighth is a newly constructed affordable rental property with 50 units, offering extensive supportive services designed for veterans. This development was the result of the partnership of Gorman & Company, Inc. and co-developer, ARM of Save the Family Foundation. Of the 50 units, a number will be reserved for income eligible individuals and families with a preference given to female veterans and veteran families with children. Speakers at the opening ceremonies included Brian Swanton and Gary Gorman of Gorman & Company, Tempe Mayor Mark Mitchell, Tempe Vice-Mayor Robin Arredondo-Savage, Arizona Department of Housing Director Carol Ditmore, Jacki Taylor of Save the Family, and others. The Arizona Department of Housing provided gap financing with HOME funds, and its Low-Income Housing Tax Credit investment provided nearly $10 million in tax credit equity through Enterprise Community Investment. Other resources for the project came from a donation of land, Project-based Section 8 Vouchers, Community Development Block Grant, and HOME funds from the City of Tempe, as well as a construction and permanent loan from BMO Harris.