PHOENIX, AZ – Trinity Housing Development announced the closure of Mesquite Terrace in downtown Phoenix, Arizona. This closure between Trinity Housing Development and Catholic Charities Community Services ("CCCS") introduces Mesquite Terrace, a new multi-family housing development. This $ 48,000,000 apartment building transaction and a 4% LIHTC transaction is the first development in Phoenix for the Springfield, Missouri developer. CCCS and its real estate development subsidiary, Housing for Hope, Inc, are based in Phoenix.
When completed, Mesquite Terrace will consist of 297 affordable homes for households with incomes 60% or less of the median income in the area. One-, two-, and three-bedroom units are strategically located in two 5-story and one 4-story buildings near the northeast intersection of Camelback Road and 19th Avenue.
A courtyard is the focal point of residents' outdoor activities, complete with shaded hangouts, picnic tables and grills, a sports field, and a children's playground. Indoor activities include a clubhouse / common room, gym, classrooms, pantry, teenage activity room, and bike storage. Most of the on-site parking spaces are covered.
The Valley Metro Rail System and Valley Metro bus routes are within walking distance and provide residents with easy access to public transportation in the city and surrounding communities.
The pre-letting of building 1 begins in summer 2022 with an expected move-in date in early autumn 2022.
Trinity Housing Development and Housing for Hope / Catholic Charities are excited about this new project and assume that more residential communities will emerge in the future. For more news and information on this project, visit the Phoenix IDA and Lument websites.
Source: Trinity Housing Development / Catholic Charities
