Las Gardenias bond 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 2000.
The property was placed in service in 2001.
210 of 300
units at Las Gardenias bond are low income and subject to the tax credit program.
The property, at the time of the tax credit allocation,
was not located in a Qualified Census Tract or a Difficult Development Area and was not qualified for additional tax credit funding.
Las Gardenias bond 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).
Las Gardenias bond is an apartment community containing 300 rental units.
The property contains 650 bedrooms and based on typical apartment occupancy limits, Las Gardenias bond
is home to not more than 1275† 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.
Las Gardenias bond contains a mix of 300 assisted
one, two, and three bedroom apartments for rent. There are 50 One Bedroom, 150 Two Bedroom, and 100 Three Bedroom apartments in this property. The unit mix is 17% One Bedroom, 50% Two Bedroom, and 33% Three Bedroom apartment rentals. The average bedroom size for Las Gardenias bond is 2.17.