The Pascua Yaqui Tribe has moved a step closer to developing 27 affordable homes on the Pascua Yaqui Reservation in Tucson, Arizona.
Officials announced that they have closed on key financing with equity investor Red Stone Equity Partners to begin construction on the $9.6 million Pascua Yaqui Homes #8 development.
“As a tribe we are always excited to launch new affordable housing developments; however, this one is special in that it represents the creation of an entirely new class of housing on our reservation,” said Keith Gregory, director of housing for the Pascua Yaqui Tribe. “For the first time ever, we are able to offer housing diversity that will hopefully fuel future development creativity in tribal housing while simultaneously providing critical affordable housing for our tribal members.”
Pascua Yaqui Homes #8 received a 2021 low-income housing tax credit (LIHTC) award from the Arizona Department of Housing that generated more than $8.3 million in investor equity from Red Stone Equity Partners.
“Red Stone Equity Partners is very grateful to have had the opportunity to partner with the Pascua Yaqui Tribe to develop high-quality affordable housing units for low- and moderate-income tribal members,” said Matt Grosz, managing director of Red Stone’s western region. “Since 2018, in collaboration with Travois and our investment partner, American Express, Red Stone has invested in four newly constructed tribal housing developments in Arizona, totaling 124 residential units.”
The new development is the Pascua Yaqui Tribe’s eighth LIHTC project and will feature three four-bedroom and 12 three-bedroom townhomes with attached garages and 12 two-bedroom townhomes. The new townhomes will have rooftop terraces, outdoor patio space, unique oversized window frames, stucco siding, metal roofs, and wood canopies, as well as feature a desert modern design.
Travois Design, the project architect, incorporated several green building techniques in the design to help lower energy use and costs.
The Pascua Yaqui Tribe partnered with Travois for consulting and architectural services. Travois focuses exclusively on promoting affordable housing and economic development for American Indian, Alaska Native, and Native Hawaiian communities.
“We congratulate the Pascua Yaqui Tribe as its eighth LIHTC development begins construction,” said Meaghan Pasbrig, project manager at Travois. “The housing department’s commitment to their mission is inspiring. To date, they have provided 299 safe and affordable homes to families through the LIHTC program. We are proud to partner with the Pascua Yaqui Tribe and thrilled to see construction begin on the new homes.”
