Phoenix Park Ii 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 $1,270,333 with a 10 year value of $12,703,330.
The property was placed in service in 2005.
180 of 182
units at Phoenix Park Ii 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.
Phoenix Park Ii is an affordable apartment community located in Sacramento, California
which is located in Sacramento County.
The property is located in California's 6th Congressional
District served by Representative Doris Matsui (D),
Senator Kamala Harris (D) and Senator Dianne Feinstein (D).
Phoenix Park Ii is an apartment community containing 182 rental units.
This property serves all family types. The property contains 445 bedrooms and based on typical apartment occupancy limits, Phoenix Park Ii
is home to not more than 880† 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.
Phoenix Park Ii contains a mix of 182 assisted
one, two, three, and four bedroom apartments for rent. There are 19 One Bedroom, 90 Two Bedroom, 46 Three Bedroom, and 27 Four Bedroom apartments in this property. The unit mix is 10% One Bedroom, 49% Two Bedroom, 25% Three Bedroom, and 15% Four Bedroom apartment rentals. The average bedroom size for Phoenix Park Ii is 2.45.