Title
Amend Ordinance S-49833 for the Helen Drake Senior Center Affordable Housing Site Redevelopment Project (Ordinance S-52118) - District 5
Description
Request to authorize the City Manager, or his designee, to amend Ordinance S-49833 amending the awarded entity name listed as The Richman Group to TRG Arizona Development, LLC, Richman Housing Development, LLC, or a City-approved nominee for the development of the undeveloped portion of the Helen Drake Senior Center site to provide affordable rental housing for seniors, and to take all actions and execute all documents to effectuate all agreements required to complete the project. Further request to amend Ordinance S-49833 by adding, to the Section 2 list of actions necessary and appropriate to develop the Helen Drake site, the authority to enter into a HOME Affordable Housing Loan Program Agreement. There is no impact to the General Fund.
Report
Summary
On June 16, 2020, the Phoenix City Council approved nine policy initiatives listed in the Housing Phoenix Plan with the goal of creating or preserving 50,000 homes by the year 2030. As part of the third initiative to redevelop City-owned land with mixed-income housing, the Housing Department identified City-owned parcels that would be ideal for affordable or mixed-income development.
On August 31, 2022, the Housing Department received City Council approval to update the list of City-owned land, and to set aside the identified parcels for the development of affordable or mixed-income development. This update included the addition of the Helen Drake Senior Center parcel located at 7600 N. 27th Avenue, Phoenix, AZ 85051, and is owned and operated by the Human Services Department.
The proposed project, Helen Drake Village, plans to develop an 80-unit senior affordable rental property, all below 80 percent Area Median Income, on the undeveloped portion of the site (approximately 1.8 acres).
The Housing Department is seeking approval to allocate up to $3 million in HOME funds to assist with the development of Helen Drake Village, which aims to redevelop the vacant portion of land adjacent to the Helen Drake Senior Center. The estimated total cost of construction for the project is approximately $30.8 million.
Financial Impact
There is no impact to the General Fund. The HOME program is federally funded.
Concurrence/Previous Council Action
On June 14, 2023, the Phoenix City Council approved the entity under the name The Richman Group.
Location
7600 N. 27th Avenue
Phoenix, AZ 85051
Council District: 5
Department
Responsible Department
This item is submitted by Deputy City Manager Gina Montes and the Housing Department.