Title
Add Funds for The Moreland Affordable Housing Development (Ordinance S-49424)
Description
Request to authorize the City Manager, or his designee, to add up to $10 million in American Rescue Plan Act (ARPA) funds for the redevelopment of the City-owned former Deck Park Vista apartment community into The Moreland, Phase I, a new 132-unit affordable housing development in downtown Phoenix, and to take all necessary actions and execute all documents. Further request authorization for the City Controller to disburse all funds related to this item. There is no impact to the General Fund. Funding is available through the City’s allocation of ARPA received from the federal government and is under the City’s Affordable Housing Program of the strategic plan.
Report
Summary
Located on approximately two acres at 1125 N. 3rd St. in downtown Phoenix, and as part of the redevelopment of the site, demolition of the buildings was completed and will be utilizing Low Income Housing Tax Credits, bank financing and the allocated funds to build the first phase of The Moreland project. Phase I includes a new 132-unit multifamily rental housing development with proposed amenities including comprehensive supportive services provided by Native Americans Connections, Inc. (NAC), first floor community space, courtyard, fitness center, a parking garage that will serve both phases, and Wi-Fi throughout the property. Phase II of The Moreland is planned for a later date. The Moreland project will address a critical need for affordable and workforce housing in the Downtown Core. Construction of The Moreland, Phase 1, is anticipated to commence in summer 2023 with estimated completion in the first quarter of 2025.
Financial Impact
There is no impact to the General Fund. Funding is available from ARPA, a federally funded program. Funds are budgeted in the Housing Capital Improvement Program.
Concurrence/Previous Council Action
On June 24, 2020, City Council approved entering into contracts with NAC as the Housing Department’s selected co-development partner for the development of The Moreland via Ordinance S-46804. On June 7, 2022, City Council approved the American Rescue Plan Act Second Tranche Strategic Plan which included an Affordable Housing Program with gap financing of which $6 million has been allocated to The Moreland Phase I. On Dec. 14, 2022, City Council allocated $4 million in ARPA funds to help close the gap for The Moreland Phase I redevelopment.
Location
1125 N. 3rd St.
Council District: 8
Department
Responsible Department
This item is submitted by Deputy City Manager Gina Montes and the Housing Department.