TUCSON, AZ – The Pascua Yaqui Tribe recently closed with equity investor Red Stone Equity Partners to begin construction on its $9.6 million affordable housing development, Pascua Yaqui Homes #8. The development will build 27 new affordable housing units on the Pascua Yaqui Reservation in Tucson, AZ.
“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 #8 received a 2021 Low Income Housing Tax Credit (LIHTC) award from the Arizona Department of Housing (ADOH) that generated over $8.3 million in investor equity from Red Stone Equity Partners for the development.
“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 tribe’s eighth LIHTC project and will build three four-bedroom and 12 three-bedroom townhomes with an attached garage and 12 two-bedroom townhomes. The new townhomes will have a rooftop terrace, outdoor patio space, unique oversized window frames, stucco siding, metal roofs and wood canopies and 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. Each townhome will have Superior Insulation, Energy Star appliances and energy-efficient windows and doors. Construction will begin in early 2022.
