A new affordable apartment community with a planned health clinic and cafe is now open in the Apache Corridor, near the light rail, bringing a model to Tempe that could be replicated across the state and country.
The development offers rentals that are now leasing and will soon add homeownership options, offering nearly 125 new affordable housing units in Tempe.
“La Victoria Commons checks all the boxes in terms of offering diverse housing opportunities and enhancing the overall health and well-being of our residents,” said Mayor Corey Woods. “We are grateful to our development and community partners, Copa Health, Newtown CDC and Rail CDC for their shared vision of creating a new housing model in Tempe.”
Copa Health developed 104 affordable apartments, with rents for a one-bedroom unit starting under $1,000 for income-qualified households. Units with two and three bedrooms are also available, ranging up to $1,376.
The apartments will serve moderate and middle-income households. For instance, a household of two making $44,850 or four making $56,100 will qualify. Potential renters can join an online interest list.
Copa’s health clinic and café open later this spring and will serve the entire community. The clinic will offer primary care and behavioral health services.
Newtown CDC is developing 19 affordable for-sale townhomes, which will be available this summer at below-market prices. Bringing homeownership options into the mix allows residents to build equity from day one and acquire family wealth.
La Victoria Commons is 20 years in the making. Tempe purchased land at Apache Boulevard and the Price Freeway in 2006 using federal funds with future affordable housing in mind.
When it was time to develop the property, Tempe accelerated the project through its Hometown for All initiative, which creates sustainable funding to expand affordable housing in partnership with the Tempe Coalition for Affordable Housing (TCAH). Hometown funds were invested in predevelopment costs, and TCAH joined as one of the project funders.
“We are pleased to participate as a funder in the La Victoria Commons development and advancing investment in a strong, vibrant Tempe community,” said TCAH Board President Irma Hollamby Cain.
The Arizona Department of Housing played a key role, assisting with a combination of tax credits for financing – a first in Arizona.
“ADOH is proud to fund $32 million in federal Low-Income Housing Tax Credits to this project, bringing 104 new affordable homes to Tempe. La Victoria Commons came together through a first-of-its-kind hybrid or ‘twinning’ model with the state utilizing both 9% and 4% tax credits to help bring this new affordable housing option to fruition,” said ADOH Director Ruby Dhillon-Williams.