Community Development Partners Opens El Rancho Del Sol
Setting High Standards Well-Designed Attainable Affordable Housing
Mesa, AZ November 7, 2017. Today Community Development Partners celebrated the Grand Opening with a ribbon-cutting ceremony at 659 and 701 East Main Street followed by a Community Street Party and property tours afterwards.
More about CDP > http://communitydevpartners.com/news/
El Rancho Del Sol was last featured on this blog site with some more information that readers can access with this link . More posts and photographs on here + social Media.
The program began with an introduction by Eric Paine, CEO Community Development Partners, followed by brief comments from Mesa Mayor John Giles, Carol Ditmore, Director of Arizona Department of Housing and Local First Arizona/Fuerza Local Deputy Director Tom Barr.
[Read more about CDP CEO Eric Paine in a follow-up right after this post]
As a complimentary to El Rancho Del Arte, both are designed from the get-go to enhance the lives of residents and the community by incorporating into the well-designed architectural environment on-site services for the families living here, as well as an indoor exercise room and business center, with a media learning lab for everyone.
>A New Leaf if providing resident support services
> Local First Arizona will provide an on-site micro enterprise accelerator
> The Cultural Coalition will continue to provide an ongoing arts-based programming both for children and adults, as well as after school programs
> We Cycle and Garden Pool are also operating ground level spaces offering unique services
Marty Moran and Christian Hume were up on the roof yesterday going over some last-minute details for rooftop gardening areas and for an outdoor recreation and barbecue area. Nice view!
Both properties of El Rancho Phase I and El Rancho Phase II are manger by Celtic Property Management. Both are 100% occupied with waiting lists for attainable/affordable housing here in Mesa.
The project was partially financed by the sale of 9% LIHTC awarded by the Arizona Department of Housing. The tax credit investor is Alliant Capital.
A construction and permanent loan from Chase Bank, HOME and Housing Trust Funds from ADOH, a HOME loan from the City Of Mesa, and a acquisition/pre-development loan from Local Initiatives Support Corporation (LISC) financed the remaining project costs.
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AFFORDABLE HOUSING FINANCE
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NEWS ABOUT COMMUNITY DEVELOPMENT PARTNERS
Communities
CDP has experienced tremendous success since launching in 2012 including the tax credit allocation on eleven LIHTC projects including new construction, renovation, 4% LIHTC with TEB, and 9% LIHTC projects in 4 states totaling over $175 million in development costs. CDP has experience navigating complex capital structures including a multitude of public funding sources. Currently, CDP is focused on projects for 2017 4% and 9% submittal rounds. CDP is also continuing to pursue new acquisitions in Western states.
News
Seems just like yesterday there was a new shovel-ready dig on ground here in The New Urban Downtown Mesa for Phase 2 of El Rancho del Arte. The groundbreaking ceremony took place on October 17, 2016 at 659 E Main Street. The keynote speaker was Arizona Department of Housing Director Michael Trailor, along with Kimber […]
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