HOUSING

Future affordable housing community in Glendale receives $2 million in funding

Centerline on Glendale will provide 368 new units

Posted 5/3/22

Gorman & Company was awarded the first-ever issuance of Arizona State Housing Tax Credits for the construction of Centerline on Glendale I & II in Glendale, by the Arizona Department of Housing.

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HOUSING

Future affordable housing community in Glendale receives $2 million in funding

Centerline on Glendale will provide 368 new units

Posted

Gorman & Company was awarded the first-ever issuance of Arizona State Housing Tax Credits for the construction of Centerline on Glendale I & II in Glendale, by the Arizona Department of Housing.

The award of $2 million in state credits was competitively allocated by the Arizona Department of Housing. Centerline on Glendale I & II will involve the construction of 368 units of new, high quality affordable housing with on-site, wrap-around supportive services.

“Centerline on Glendale I & II will be an integral part of the comprehensive revitalization strategy for the Glendale Centerline redevelopment area,” Gorman & Company CEO & President Brian Swanton said.

Located on a 13-acre vacant and underutilized parcel at the southeast corner of 67th and Glendale avenues, Centerline on Glendale will have a total development cost of more than $90 million and represents the single largest private investment in Glendale’s Centerline redevelopment area since it was designated for redevelopment in the 1990s.

The new state housing tax credit program, which will finance a portion of the costs, was adopted by the Arizona legislature and signed into law by Governor Ducey in 2021. The tax credits will be sold to institutional investors, and the equity raised from the sale of the credits will be used to construct the development.

“This project truly took all levels of government working together to collaborate with the private sector and surrounding neighborhood residents to bring Centerline on Glendale to fruition,” Swanton said.

Centerline on Glendale will provide affordable housing to low and moderate-income households, will create hundreds of jobs, and will be the single largest private investment in Glendale’s Centerline redevelopment area since established.

“Glendale is excited to welcome Centerline on Glendale, the third Gorman & Company project, to our community,” said Vice Mayor Jamie Aldama, who represents the Ocotillo District where the project will be located. “Our support for quality, affordable housing with on-site services and amenities is not only the right thing to do; it is the action that unites us as a community. All of our residents deserve to have access to safe places to live where loved ones can grow and thrive. With the growth we are experiencing in Glendale, public-private partnerships like this are crucial to improving the lives of all our residents.”

Centerline on Glendale will include a community kitchen and business incubation space for emerging small businesses, a fitness and recreation center, a dog park, a walking path, a splash pad, and will provide wrap-around supportive services to residents. The development is within walking distance of Glendale High School, 6216 W. Glendale Ave., and is adjacent to two major bus lines. The project will be just one block from the soon-to-be constructed Mountain Park Health Clinic.

Centerline’s resident population is expected to be diverse, including families with children, single individuals, the elderly, the disabled, and households with special needs. The development will include one, two, and three-bedroom units. All units will be affordable to households earning at or below 60% of the Area Median Income and accessible for the physically disabled.

Additional financial support for the project will come from rental subsidies from the Arizona Health Care Cost Containment System (AHCCCS), the city of Glendale, ARPA funding from the Maricopa County Human Services Department, and National Housing Trust Funds from the Arizona Department of Housing. The project will be financed with tax-exempt bonds issued by the Arizona Industrial Development Authority, along with both federal and state housing tax credits.

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