When completed later this year, dozens of apartments under construction will accommodate low-income families who qualify under local, state and federal guidelines.
A 72-unit family apartment complex called Creekview Village Apartments (CVA) is being built at 519 Miller Valley Road. With 24 two-bedroom and 48 three-bedroom apartments, all have two bathrooms and a patio or balcony.
The complex will contain six three-story walk-up apartment buildings. The apartments comprise about 102,000 collective square feet.
The complex also will include a playground, barbecue area, basketball court and walking paths. It also will have a one-story clubhouse.
Under construction for the past several months, the apartments are expected to be done around the first of the year.
Applications for rental units will be made public when construction nears completion, said David Kotin, President and designated broker for Scottsdale-based Kay-Kay Realty. He noted that Kay-Kay has a branch in Prescott. The firm also manages the Canyon Run Senior Apartments on White Spar Road.
Kotin said the complex was funded through low-income tax credits allocated by the Arizona Department of Housing in 2017. Kotin, a 28-year veteran executive with Kay-Kay, explained that CVA resulted from a partnership between Bethel Development, Inc., and Rainbow Housing Assistance Corp. The two organizations have partnered to create affordable housing in several states.
Bethel Development is an Ohio-based company that specializes in affordable housing. Bethel has developed 29 affordable housing projects in Ohio, New Mexico and Arizona.
In addition to the Prescott apartments, Bethel is constructing another 76-unit senior living complex in Phoenix. It, too, is scheduled for completion around the first of the year.
Kotin said Rainbow is a Phoenix-based nonprofit organization that provides service-enriched housing opportunities and programs for residents in rental communities throughout the country.
Kotin said CVA rents are based on complex formulae determined by economic statistics. At present, 26 units have been designated for families with less than 40% of the median income, 33 units for are those with 50% or below median income and 13 units are for those with 60% or below of median income.
The median income in the Prescott area is $50,041, and 56,581 in Arizona, according to the latest data*. The U.S. average median income is $53,482*.
Flynann Janisse, executive director of Rainbow, said on the organization’s website, “It has been a pleasure to have a strong partnership with Bethel Development over the years. We are eager for these new developments to open so we can further support residents of affordable housing in meaningful ways.”
Rainbow is planning a wide range of onsite and online services both for the Prescott and the Phoenix complexes. Services will include after-school enrichment programs, computer training, financial literacy classes, job training, nutrition classes and a resident-services coordinator.
Kotin said CVA construction and management teams would use local staff and labor, local supplies and local vendors as much as possible.
Those wanting rental information about the Creekview Village can contact 928-541-9960.
*Source: Census American Community Service (ACS) 1, 2017