City of Phoenix Seeks Developer for Mixed-use Project Near Downtown

Article originally posted on Phoenix Business Journal on July 7, 2021

The city of Phoenix is seeking a developer to lease and develop a mixed-use project, which will include affordable or workforce housing, on a city-owned site near 14th and Jefferson streets.

According to a request issued by the city, at least 50% of the apartment units in the finished project must be offered as affordable housing or workforce housing, while the remainder can be market rate. The city defines affordable as available to residents will incomes at or below 60% of the area median income. Workforce housing must me available to residents that earn between 80% and 120% of the area median income.

The city will require at least 75% of the nonparking square footage of the development to be residential, and any other nonresidential uses on the site should incorporate amenities and uses that enhance the neighborhood.

The successful respondent will be expected to create “an appropriately dense, infill, mixed-use, mixed-income residential development project,” according to the request. The site is near a light rail station and near Eastlake Park, one of the oldest city parks. The area has become a draw for developers, especially those building affordable and workforce housing.

Find The Complete Article Here: https://www.bizjournals.com/phoenix/news/2021/07/06/phoenix-seeks-developer-mixed-use-near-downtown.html

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