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Crystal Creek Townhomes

This development encompasses 22 four-plex buildings with 89 2- and 3- bedroom units, 85 of which are affordable to low-income households earning at or below 60 percent of the area median income. A contribution from the Arizona State Housing Trust Fund allowed 10 of these units to be targeted at an even lower income threshold; these units are set aside for households with incomes at or below 50 percent of AMI. Low income housing tax credit equity was used to cover additional project costs. Once the tax credit ownership obligations have been satisfied, tenants will have the opportunity to purchase their units at below-market prices. Resale is limited to income-qualifying households (those earning at or below 60 percent of AMI), a limited appreciation strategy that keeps the units affordable for successive households.