The Arizona Department of Housing has awarded a reservation of Low Income Housing Tax Credits to Gardner Capital Development to develop the El Caro Senior Residences in Phoenix.
The $18 million affordable senior housing project will consist of 102 energy-efficient one- and two-bedroom apartments.
Construction of the development is expected to begin in the first quarter of 2017, with completion slated 15 months after work begins. Twenty-five percent of the units will be reserved for seniors or family members with developmental disabilities.
Gardner Capital Development will serve as the project lead developer and Reid Butler and Scott Davis will serve as additional advisors to the project. The United Cerebral Palsy Association (USP) of Central Arizona will provide supportive services for the housing community when completed.
When completed, the 5-acre development will offer residents special amenities including a two-story clubhouse and community center, as well as open space, conference rooms, and multipurpose rooms.
The site will also offer an open courtyard with gathering and barbecue areas. Each of the three, three-story buildings will have an elevator. UCP will be using the onsite clubhouse and community center to provide supportive services to the residents.
