PHOENIX — More affordable housing is coming to the Valley following the Phoenix City Council's approval of $9 million in federal grant funding on Wednesday, The funding was awarded to five developers who will create separate projects throughout the Valley. Over 400 units will be built or preserved to address the needs of residents with incomes at or below 60% of the Area Median Income. Of those units, 11 City HOME unites will serve households at or below 40% AMI.
“In Phoenix, we are working with urgency to ensure that everyone has a safe, affordable place to call home,” Phoenix Mayor Kate Gallego said in a news release. “The critical federal funding we approved today will enable developers to build or preserve housing across the city so more families in our community can access stable housing for decades to come.” The Housing Phoenix Plan
. The goal was to create and preserve 50,000 units by 2030, and so far, they have reached 80% of their goal. The Garfield III will be a 60-unit new build near 16th and Roosevelt Streets.The Kazan Apartments will be a 72-unit new build with two locations near Thomas Road and 43rd Avenue. Resilient Living at Sunnyslope will be a 40-unit new build near Peoria and 19th Avenues. This project received funding from the federal U.S.
The cities of the Valley have a combined population of 4,845,832 people, according to the 2020 United States Census. This makes it the 11th largest metropolitan area in the country right behind the Boston and Atlanta areas.In our “Boomtown” series, 12News takes a look at the Valley’s explosive growth over the past few decades, the consequences that came with it and a look at what it all means for our future as more than 1.5 million people are expected to move to the valley by 2040.