#USA #affordable housing #Lincoln Avenue #Maricopa

Groundbreaking for Affordable Housing in Maricopa

Lincoln Avenue Communities (LAC), a developer focused on affordable housing solutions, has officially started construction on its first Build-to-Rent (BTR) project in Maricopa, Arizona, named The Ranches at Gunsmoke Apartments. This development, which broke ground recently, aims to provide 271 housing units for families and individuals earning up to 60% of the Area Median Income in this rapidly growing area.

A Partnership for Quality Housing

The groundbreaking ceremony was attended by Maricopa Mayor Nancy Smith and other local stakeholders. During the event, Ben Taylor, LAC's Vice President, expressed enthusiasm for the initiative, pointing out the urgent need for such housing options in one of the nation's quickly developing metropolitan regions. Taylor emphasized the partnership with WNC Associates to bring top-tier affordable housing solutions to Arizonans.

"This project addresses a crucial need for quality living spaces that accommodate the diverse workforce in Maricopa, including hourly workers, teachers, and even retired citizens," Taylor noted.

Project Features and Amenities

The Ranches at Gunsmoke will consist of both two- and three-bedroom duplexes as well as standalone homes. Each unit will come equipped with amenities such as:

• - Patios
• - Walk-in closets
• - Private fenced backyards

In addition to individual unit features, residents will benefit from community amenities including:

• - A fitness center
• - A swimming pool
• - Grilling areas
• - A clubhouse
• - Rental storage units

To reinforce sustainability, a solar carport system will be installed to offset approximately 50% of the community’s electricity usage. The project is expected to reach completion by 2026.

Importance of Affordable Housing

Mayor Smith highlighted the significance of this development during the groundbreaking event. She remarked, "This community is vital for those who contribute to the city of Maricopa. It's about creating a supportive environment for everyone, but especially for our workforce who might struggle to find affordable housing."

Funding the Initiative

The development's financial backing comes from multiple sources:

• - Construction and permanent loans from Citibank
• - $65 million in tax-exempt bonds facilitated by the Arizona Development Authority
• - $49 million in Low-Income Housing Tax Credits (LIHTC) along with solar equity from WNC

About Lincoln Avenue Communities

Lincoln Avenue Communities stands as one of the leading developers focused on creating affordable and sustainable homes across the United States. With a presence in 28 states, LAC manages a portfolio comprising over 170 properties and providing housing solutions to 80,000 residents. The organization is dedicated to addressing the housing needs of lower- and moderate-income families, seniors, and individuals nationwide.

This groundbreaking event marks an important step in addressing the critical shortage of affordable housing in the nation, particularly in rapidly growing areas like Maricopa, Arizona.