Feb. 9, 2012

District 4 City Councilman Tom Simplot and the city of Phoenix Housing Department joined the NRP Group, Arizona Department of Housing, Arizona Department of Veterans Services, UMOM New Day Centers and neighborhood leaders today in celebrating the groundbreaking for construction of the Madison Pointe Apartment Homes at 4150 N. Ninth St. Vietnam Veterans of America Chapter 432 also participated by presenting the colors for the ceremony.

When completed in fall 2012, Madison Pointe will be a 60-unit, affordable apartment community serving households at or below 40 to 60 percent Area Median Income, with several units dedicated to veterans and veterans’ families. Fifteen units will be set aside for Department of Housing and Urban Development Veterans Affairs Supportive Housing program, providing long-term case management, free supportive services and permanent housing support. An additional 10 units will be for veterans and their families, with rental subsidy through a McKinney-Vento grant and case management funded through a grant from Supportive Services to Veteran Families.

The recent Arizona StandDown, held Feb. 3-5 at Veterans Memorial Coliseum, served 1,266 veterans and identified more than 800 of them as currently being homeless – sleeping outside, in emergency shelter or transitional housing.

“Our veterans and their families deserve a safe, supportive place to call home and Madison Pointe apartments will serve that purpose well,” said Simplot. “When completed, Madison Pointe will beautifully complement the surrounding neighborhood.”

Madison Pointe will offer one-, two- and three-bedroom apartment homes on the former site of two mobile home parks. It will be within walking distance of the Carl T. Hayden VA Medical Center, Vietnam Veterans of America and the U.S. Department of Veteran Affairs, providing residents ready access to medical care and veteran services.

The NRP Group LLC is the developer, builder and management company for the project.

Total construction cost is estimated to be $11.1 million, financed with $6.7 million from Bank of America, $2.1 million in low-income housing tax credits, $720,518 from the Arizona Department of Housing, $198,427 in deferred developer fees, and a $1.5 million city of Phoenix HOME Investment Partnerships Program loan. HOME is the largest federal block grant to state and local governments, designed to strengthen partnerships among all levels of government and the private sector in developing affordable housing.

 “The city of Phoenix Housing Department is pleased to be able to dedicate federal HOME funds to an affordable housing community that will serve veterans,” said city of Phoenix Housing Director Kim Dorney.
 

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