Alto Apartments

Alto Apartments will be a 200-unit, 4% Low-Income Housing Tax Credit (LIHTC) development located in Maricopa, Arizona. This new construction will consist of eight three-story, garden-style buildings. It also will include a standalone clubhouse with a fitness center, pool, clubroom and community room, as well as outdoor play areas.

This is Huntington Community Impact Capital’s (CIC) first direct equity investment with Roers. CIC provided $32.3 million in LIHTC equity in addition to $522,000 in solar energy credit equity. Roers Companies is an emerging national leader in multifamily real estate investment, development, construction and property management. It specializes in building affordable housing for under-resourced areas.

Given the high demand and need for affordable housing in the area, a quality development with such desirable amenities will be very impactful for families making less than 60% of the area median income.