Two development closings to ring in the new year!

Tolowa Dee-ni’ Nation (TDN) and Yavapai-Apache Nation Tribal Housing (YANTH) have each recently closed developments with investors for a combined $17.5 million in equity! Each of these developments received 2018 allocations of Low Income Housing Tax Credits (LIHTCs) and closed before the end of the year!

TDN closed its $12.9 million development with Hunt Capital Partners. This new development, Dat-naa-svt (pictured above; photo courtesy of TDN), is located in Smith River, CA and includes 20 new single-family units that are a mix of one-, two-, three- and four-bedroom units, one manager’s unit and a community facility building with pavilion and basketball court. Dat-naa-svt has been under construction for a month and a half and has made significant progress on the first of four planned clusters of homes.

With an allocation of credits from the California Tax Credit Allocation Commission (CTCAC) and investor equity, TDN is building the Dat-naa-svt development as the foundation of its holistic strategy to meet the needs of low-income families of the community.

“The reason we do all this, the reason there are Low Income Housing Tax Credits, is that safe, affordable housing is beyond the reach of persons whose incomes are lower than average,” said Tim Hoone, TDN planning director. “Beyond the economics, for tribal members, there is a strong desire to live on or near the reservation. This land had been the home of Tolowa people since time immemorial. At one time, just 175 years ago, there were Tolowa Villages up and down the coast and river valleys of what we call Northern California and Southern Oregon.

“Dat-naa-svt is designed to create a modern Tolowa Village: 21 homes and a community center, spread over 12 acres, overlooking the ocean. Front doors will face west. The community center allows people to build community and hold events important to them, socially and culturally. Herds of elk still graze nearby (8+ acres are still left as open field),” Tim said.

Read more about the development here and see beautiful site photos.

Moving south to Arizona, the YANTH team (pictured above at the 2016 Brian Mickelsen Housing Hero Awards ceremony) closed its Yavapai-Apache Homes #7 development with RBC Capital Markets after receiving an allocation of tax credits from the Arizona Department of Housing (ADOH).

The development will build 35 housing units on the Yavapai-Apache Nation in Clarkdale, AZ. Construction will start in May 2019! The new construction will consist of 30 three-bedroom units with 1,580 square feet and five four-bedroom units with 1,829 square feet. The development also includes the construction of a new community building.

Read more about the great team at YANTH here!

We congratulate you both and can’t wait for the next steps in your developments — construction!