LIHTC Investment in Phoenix, AZ Creates 210 Jobs

July 30, 2012 - Boston Capital invested in the rehabilitation of Marcos de Niza Apartments, a 374-unit multifamily development for families in Phoenix, AZ.  Marcos de Niza Apartments will be rehabilitated with tax credit equity from the Low Income Housing Tax Credit (LIHTC) program.  The managing member is the Phoenix Inner Beltway Housing Corporation.

Located on nearly 31 acres, Marcos de Niza Apartments is comprised of 144 one-bedroom, 144 two-bedroom, 62 three-bedroom and 24 four-bedroom units. Development amenities will include a community center, playground, storage facilities and off-street parking.  The apartment community's senior center offers daily meals, delivery of meals to homebound seniors, exercise classes and arts and crafts classes. Staff also coordinates transportation to medical appointments, picking up prescriptions, groceries and other basic errands for tenants.  Units will be available to families earning 60% percent or less of the Area Median Income (AMI).

Boston Capital's investment in Marcos de Niza Apartments adds 374 units of affordable housing to its apartment portfolio.  The rehabilitation of this property will generate $17.9 million in local income and create approximately 210 jobs in the Phoenix area. To date, Boston Capital has invested in more than 2,425 units of affordable housing in Arizona.

About Boston Capital:

Boston Capital, headquartered in Boston, MA, is a real estate investment and advisory firm specializing in tax advantaged investments in affordable multifamily housing and energy, and equity investment in market rate apartment communities. Boston Capital's holdings include nearly 2,400 multifamily apartment properties in 49 states and the District of Columbia, constituting nearly 157,425 apartments with a development cost in excess of $13.4 billion. Boston Capital is the largest owner/investor of apartment properties in the US.

For more information:  

David Gasson 

Corporate Communications

Boston Capital

One Boston Place

Boston, MA 02108-4406

(617) 624-8896