Chandler $58M Affordable Housing Project Replaces Dated Development
The City of Chandler and Gorman & Company have delivered the Villas on McQueen, marking the completion of Chandler’s first public housing project converted through HUD’s Rental Assistance Demonstration (RAD) program. The 157-unit affordable housing development replaces two public housing communities originally built in 1972 that served Chandler families for more than 50 years.
The $58 million development enables 78 households from two existing Chandler public housing communities to relocate to brand-new homes while also creating an additional 79 affordable housing units. The 78 replacement units offer one-, two, three-, four- and five-bedroom homes, and the remaining 79 units are available to families earning at or below 60% of the Area Median Income (AMI) through the Low-Income Housing Tax Credit (LIHTC) program.
Financing for Villas on McQueen was made possible through seven separate funding sources, including the Arizona Department of Housing, Maricopa County, City of Chandler, RBC Community Investments, Stonehenge Capital, Capital One, and Cedar Rapids Bank and Trust.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout