The Pascua Yaqui Tribe received a 2018 allocation of Low Income Housing Tax Credits (LIHTCs) from the Arizona Department of Housing for its sixth LIHTC development, Pascua Yaqui Homes #6.
The development includes the new construction of six five-plex buildings (30 total units) on the Pascua Yaqui Reservation in Tucson, AZ.
The new construction consists of: 18 one-bedroom, 880-square-foot units and 12 two-bedroom 1,148-square-foot units.
Nine units are targeted to households with annual incomes up to 40 percent Area Median Household Income (AMI), 12 units are targeted for households up to 50 percent AMI, and nine units are targeted for households up to 60 percent AMI.
RBC Capital Markets is the investor for this development.
- Native Organization: Pascua Yaqui Tribe
- Asset Management Client
- Date Closed with Investor: 2019
- Date Completed: 2020
- Development Type: New Construction
- Project Status: Complete
- Total Homes: 30
- Total Project Cost: $7,327,194
- Total Investor Equity: $5,383,085