Roosevelt Historic Housing was developed and operates with Federal housing financing.
The property utilizes 2 Federal housing programs to make rent affordable to lower income tenants.
These programs are Low Income Housing Tax Credit and HOME.
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 2002.
The property was placed in service in 2004.
48 of 48
units at Roosevelt Historic Housing 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.
HOME Investment Partnership
The property was financed in part with financing through the Federal HOME Investment Partnership Program.
48 of the 48 total units at Roosevelt Historic Housing are assisted under the HOME
Roosevelt Historic Housing 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).
Roosevelt Historic Housing is an apartment community containing 48 rental units.
This property serves all family types. The property contains 88 bedrooms and based on typical apartment occupancy limits, Roosevelt Historic Housing
is home to not more than 172† 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.
Roosevelt Historic Housing contains a mix of 48 assisted
one and two bedroom apartments for rent. There are 8 One Bedroom and 40 Two Bedroom apartments in this property. The unit mix is 17% One Bedroom and 83% Two Bedroom apartment rentals. The average bedroom size for Roosevelt Historic Housing is 1.83.