Developers planning 600+ affordable housing units in Glendale
67 Flats and Juniper Square will cater to families, seniors
Special to Independent Newsmedia
Posted 1/9/24
Housing developer Dominium announced Tuesday that it has closed a deal to acquire land for the development of a new community of affordable housing in Glendale.
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Housing developer Dominium announced Tuesday that it has closed a deal to acquire land for the development of a new community of affordable housing in Glendale.
Dominium plans to use the land located at 6504 N. 67th Ave. in Glendale to construct 67 Flats and Juniper Square, new housing communities for low-income families. Once completed, 67 Flats will provide 384 high quality homes, and Juniper Square will provide 221 high quality senior homes for the city of Glendale, a press release notes.
The project will be constructed by WD Construction.
Construction of 67 Flats and Juniper Square will be supported by the Section 42 Low-Income Housing Tax Credit program (LIHTC). Nationwide, LIHTC is the largest source of support for the construction and maintenance of affordable housing communities, according to Dominium.
In exchange for tax credits, affordable housing developers and operators agree to maintain rents at levels tied to the Area Median Income. Construction of LIHTC properties increases the supply of affordable housing.
Development partners include Barclays, Merchants Capital, Colliers Securities, Polaris Capital, the city of Glendale, the Arizona Department of Housing, HOME Partnership Investment, Arizona Industrial Development Authority, Winthrop & Weinstine, McDermott Will & Emery, LLP, Fox Rothschild, Orrik, Ballard Spahr, Gammage & Burnham, Bilsten Consulting, Todd & Associates, Hunter Engineering, Commercial Partners Title, Kutak Rock, and US Bank.
