Coconino News

In a recent development, the Flagstaff City Council has given the green light to $3.33M in Rental Incentive Bond Program awards. This funding is set to be utilized alongside other financial sources to facilitate the construction of 139 affordable rental units in downtown Flagstaff by the Foundation for Senior Living.

Flagstaff Mayor Becky Daggett expressed her enthusiasm for the project, stating, "These two projects taken together are going to have a huge positive impact on seniors and families in our community. I can’t wait to help welcome our neighbors to their new homes."

The San Francisco Square Apartments and the Aspen Lofts Apartments are the two key developments that will benefit from this funding. The former will cater to seniors earning up to 80% of the area median income, while the latter will provide housing for individuals and families earning up to 60% of the area median income.

The allocation of these funds stems from the approval of Proposition 442 by Flagstaff voters back in 2022. This proposition authorized the use of general obligation bonds to support the creation of rental and ownership opportunities for Flagstaff residents.

This initiative aligns with the City's 10-Year Housing Plan, which aims to offer housing options for households of various income levels and family sizes within the local community.

For those interested in learning more about the City of Flagstaff’s Housing Section or the City’s 10-Year Housing Plan, further information can be found at flagstaff.az.gov/4372/Housing-Section. Any inquiries regarding the Rental Incentive Bond Program can be directed to Jennifer Mikelson, the City of Flagstaff Housing Planning Manager, at JMikelson@flagstaffaz.gov.