Urban League Manor 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 Section 202.
The property was developed with funding through the HUD Section 202 program which provides funding for housing for seniors
who are 62 or older. The program provided both capital financing to construct the property and operating subsidies
that work as rental assistance like the Section 8 program.
Urban League Manor is among only 84† Section 202 properties
in Arizona and 6,166† in the country.
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 2006 for $900,000 with a 10 year value of $9,000,000.
The property was placed in service in 2007.
137 of 152
units at Urban League Manor 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.
Urban League Manor 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).
Urban League Manor is an apartment community containing 151 rental units.
The property contains 158 bedrooms and based on typical apartment occupancy limits, Urban League Manor
is home to not more than 244† persons when fully occupied.
Urban League Manor provides rental subsidies to renters. The type of subsidy provided to apartment renters in Phoenix, AZ by this property is Section 202 Rental Assistance.
This subsidy allows the renter to pay 30% of his or her income for rent while the subsidy pays
the difference. To qualify, a renter must earn 50% or less of the Area Median Income.
There is no minimum rent at this property for residents receiving a rent subsidy but
in recent years, there has been discussions in Congress to implement a minimum rent in the
Section 202 Program to reduce cost burden on the Federal budget.
Urban League Manor contains a mix of 151 assisted
one and two bedroom apartments for rent. There are 144 One Bedroom and 7 Two Bedroom apartments in this property. The unit mix is 95% One Bedroom and 5% Two Bedroom apartment rentals. The average bedroom size for Urban League Manor is 1.04.