Crystal Pointe was developed and operates with Federal housing financing.
The property utilizes the Low Income Housing Tax Credit Federal housing program to make rent affordable to lower income tenants.
Low Income Housing Tax Credit
The property was developed using the Low Income Housing Tax Credit Program.
This program incentivizes investors to inject capital into rental apartments for lower income Americans.
The property received a tax credit allocation in 2004 for $700,000 with a 10 year value of $7,000,000.
The property was placed in service in 2006.
172 of 191
units at Crystal Pointe are low income and subject to the tax credit program.
The property, at the time of the tax credit allocation,
was located in
a Qualified Census Tract qualifying it for additional tax credit financing.
Crystal Pointe is an affordable apartment community located in Phoenix, Arizona
which is located in Maricopa County.
The property is located in Arizona's 6th Congressional
District served by Representative David Schweikert (R),
Senator John McCain (R) and Senator Jeff Flake (R).
Crystal Pointe is an apartment community containing 193 rental units.
The property contains 202 bedrooms and based on typical apartment occupancy limits, Crystal Pointe
is home to not more than 436† persons when fully occupied.
This property does not provide any Federal rent subsidies to renters
reducing total tenant payments to 30% of their adjusted income. Renters are required to
pay the full rent, even if it is in excess of 30% of their income. In some cases the
property may accept Section 8 Housing Choice vouchers.
Crystal Pointe contains a mix of 193 assisted
studio, one, and two bedroom apartments for rent. There are 62 Studio, 60 One Bedroom, and 71 Two Bedroom apartments in this property. The unit mix is 32% Studio, 31% One Bedroom, and 37% Two Bedroom apartment rentals. The average bedroom size for Crystal Pointe is 1.06.