In a move to alleviate the biting need for affordable housing in Maricopa County, local leaders gathered to usher in the opening of Ascent on Broadway, a housing community designed to provide a beacon of affordability in South Phoenix, according to a recent release from Maricopa County's official site. Supervisor Steve Gallardo, a strong advocate for such initiatives, emphasized the importance of this development saying, “The need for affordable housing has never been more urgent in Maricopa County, and this new community shows how partners are working together to take meaningful action,” he underscored the new community's contribution towards offering “more options for stable, safe, and affordable housing, which is a key step in addressing the challenges facing our families.”
Strategically situated near the light rail for essential connectivity, the new community boasts 161 units that cater to various family sizes with amenities like a playground and a clubhouse, it seems that the living spaces therein, range from 450 square feet studios to sizable three-bedroom units of 1,048 square feet making every effort to prioritize resident comfort, moreover Ascent on Broadway has taken steps to ensure these units remain accessible to households earning at or below 60 percent of the Area Median Income (AMI) and with 140 units already filled.
In a statement by Jose Martinez, Executive Vice President of Economic Development for CPLC, stated, “Ascent on Broadway offers affordable housing with easy access to mobility. The light rail and public transportation connect residents to workplaces, education, and resources,” demonstrating a clear vision for community development that intertwines housing accessibility with economic opportunities. The residents can also avail themselves of programs by Chicanos Por La Causa focused on family resources and community engagement, aiming to bolster their life experience beyond simply providing shelter.
Financial architecture for Ascent on Broadway was secured through the allocation of $1.6 million from the American Rescue Plan Act (ARPA) as approved by the Maricopa County Board of Supervisors, in addition, funding was also derived from both Private Activity Bonds from the Industrial Development Authority (IDA) of the City of Phoenix and a 4 percent Low-Income Housing Tax Credit from the Arizona Department of Housing with all fingers in the pie the collective investment rounded up to $34.3 million for this project's completion which testifies to the collaborative nature of efforts trailing the project.
As Phoenix grows and the clamor for affordable housing echoes louder, the completion and occupancy of Ascent on Broadway mark a noteworthy stride towards not just building structures but creating homes for those in need. For more details on the development and the county's housing initiatives, individuals are encouraged to visit Maricopa.gov/Housing.
