Indigo 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 2007 for $771,687 with a 10 year value of $7,716,870.
The property was placed in service in 2009.
52 of 72
units at Indigo 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.
Indigo 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).
Indigo Pointe is an apartment community containing 72 rental units.
The property contains 168 bedrooms and based on typical apartment occupancy limits, Indigo Pointe
is home to not more than 336† 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.
Indigo Pointe contains a mix of 72 assisted
two and three bedroom apartments for rent. There are 48 Two Bedroom and 24 Three Bedroom apartments in this property. The unit mix is 67% Two Bedroom and 33% Three Bedroom apartment rentals. The average bedroom size for Indigo Pointe is 2.33.