July 8, 2020 — Boston Capital is investing in the development of Alborada Apartments, a 127-unit affordable housing development for families in Tucson, Arizona. This investment represents Boston Capital’s sixth partnership with La Frontera Partners, based in Tucson.
“With our good friend and partner Daniel Ranieri and the folks at La Frontera, we are excited to be involved in creating much-needed affordable housing for families in Tucson, Arizona,” said Jack Manning, president and CEO of Boston Capital. “During this unprecedented health and economic crisis, it’s more important than ever that we continue to invest in affordable housing and help address the affordable housing shortage in Tucson and across the country.”
Located 118 miles south of Phoenix and 60 miles north of the U.S.-Mexico border, Alborada Apartments will be a scattered site development at four newly-constructed separate locations. The apartment community will feature six studios, 59 one-bedroom, 21 two-bedroom and 41 three-bedroom units in various structures including single-story buildings, two-story walk-up buildings, a three-story elevator building and single-family homes. Thirty percent of the units will feature a preference toward families with children. Design features for households with children include three-bedroom units featuring two full baths and larger kitchen and living areas as well as a community basketball hoop and playground.
Units will feature major kitchen appliances including dishwashers. Development amenities will include off-street parking, community laundry (except at locations where in-unit washer and dryer are supplied) and on-site management office. Residents will have the opportunity to share community center facilities, playgrounds and picnic areas and sports facilities at La Frontera Partners’ nearby apartment communities. Alborada Apartments will be conveniently located near public transportation, shopping, supportive services, schools and employment opportunities.
Albadora Apartments will serve families earning 60 percent or less of the Area Median Income (AMI). The apartment community will be built with tax credit equity from the Low Income Housing Tax Credit (LIHTC) program. To date, Boston Capital has invested in nearly 3,500 affordable apartments in Arizona and more than 500 units in Tucson.
About La Frontera Partners:
La Frontera Partners, Inc. (LFP), an Arizona non-profit organization, provides low-income housing for families, seniors and persons with disabilities. The development team is led by Director of Housing Development Daniella Zepeda, who has 17 years of LIHTC experience and Jason Hisey, Project Consultant.