PHOENIX – A residential development in Phoenix was awarded a $ 500,000 grant as part of a nationwide initiative to fund affordable housing projects. Construction is scheduled to begin in December to redevelop the city’s Deck Park Vista apartment community near Hance Park on Third and Moreland Streets. The price is $ 51.6 million, according to a press release on Tuesday. The money to support the project is part of the third round of grants to the Home Matters Arizona Fund, which uses government, philanthropic, and national private investments to raise a $ 100 million fund over two years to finance affordable housing projects to be made available for release in the state. “Home Matters to Arizona aims to tackle affordable housing firsthand by adding critical units to manage the housing crisis and bringing developers together with other community-based providers to address systemic issues,” said Jim Stringham, chairman of the Home Matters Arizona Fund said in the publication. The fund is a collaboration of the Arizona Association of Health Plans with participants including Arizona Complete Health, Banner – University Health Plan, Care1st Health Plan Arizona, Health Choice Arizona, Magellan Complete Care of Arizona, Mercy Care and The NARBHA Institute, and UnitedHealthcare, according to the announcement . The Phoenix apartment community will consist of 65 studios, 95 one-bedroom, 42 two-bedroom and 15 three-bedroom units, as well as community-wide WiFi to help bridge the digital divide of low-income families with children, according to the press release. According to the complex’s official website, it should be completed in mid-2023. According to the press release, the project plan promises to secure high-quality and affordable living space with supporting services for many decades. The redevelopment of the residential community corresponds to the aim of the funding initiative, which aims at aid projects that show measurably positive results for certain population groups, including families with low to middle income, veterans, senior citizens, the homeless and people with disabilities. “Arizona’s health care leaders are drawn to this move because a safe place to live is one of the biggest determinants of health outcomes,” said Stringham. “People without affordable housing are more likely than others to sacrifice necessities such as healthy eating and health care.” A housing project in Flagstaff that will have 44 units available also received $ 351,000 in the third round of payouts for a total development cost of 5.85, according to the press release Million dollars. Construction of the residential project in Flagstaff is slated to begin in November. Follow @ KTAR923
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