{"MatterTextId":35297,"MatterTextGuid":"8B3151AB-37A0-40DD-82BA-AD920BA31A32","MatterTextLastModifiedUtc":"2026-05-11T21:09:05.31","MatterTextRowVersion":"AAAAAASKAGA=","MatterTextMatterId":35197,"MatterTextVersion":"1","MatterTextPlain":"..Title\nFunding for The Moreland Phase II Affordable Housing Development (Ordinance S-53026) - District 8\n\n..Description\nRequest to authorize the City Manager, or his designee, to allocate up to $10 million from Housing Department funding sources including HOME Investment Partnerships (HOME) Program, Neighborhood Stabilization Program (NSP) and other affordable housing funds. Additionally, request to allocate up to 54 Section 8 Project Based Vouchers, and take all necessary actions and execute all documents for The Moreland, Phase II, an affordable housing development. Further request authorization for the City Treasurer to accept and the City Controller to disburse all funds related to this item for the life of the agreement(s). There is no impact on the General Fund.\n\n..Report\nSummary\nTo address a critical need for affordable housing in downtown Phoenix, the Housing Department issued a Request for Proposals seeking a co-developer partner to redevelop the former Deck Park Vista Apartments site into The Moreland, a new affordable multifamily rental housing project. Brinshore Development, LLC was selected to serve as co-development partner for the project with the Housing Department. The Moreland will consist of two phases with Phase II featuring 105 studio and one-bedroom units, a community room, a fitness center and other amenities. Phase I consists of 132 studio, one-, two-and three-bedroom units and is currently under construction with a completion date of February 2028.\n\nThe Moreland Phase II is located at 475 E. Moreland Street, and anticipated to serve seniors age 55 and over in at least 80 percent of its units, as well as include a workforce housing component of approximately 27 units. Total development costs for Phase II are estimated at $45,858,000 with other anticipated sources consisting of Low Income Housing Tax Credit equity, private mortgage, National and/or State Housing Trust Funds (applied), deferred developer fee and funding from the Phoenix Community Development and Investment Corporation. The allocated Project Based Vouchers are expected to serve low-income seniors.\n\nFinancial Impact\nThere is no impact on the General Fund. Funding is available from the federal HOME and NSP Programs, and other affordable housing gap funds budgeted in the Housing Department’s Capital Improvement Plan budget.\n\nConcurrence/Previous Council Action\nOn June 18, 2025, through Ordinance S-52107, City Council approved entering into a contract with Brinshore Development, LLC to serve as co-development partner with the Housing Department, and to take other actions to complete the development of all phases of The Moreland affordable housing project.\n\nLocation\n475 E. Moreland Street\nCouncil District: 8\n\n..Department\nResponsible Department\nThis item is submitted by Deputy City Manager Gina Montes and the Housing Department.","MatterTextRtf":"{\\rtf1\\ansi\\ansicpg1252\\deff0\\deflang1033{\\fonttbl{\\f0\\fnil\\fcharset0 Arial;}}\n{\\colortbl ;\\red0\\green112\\blue192;}\n\\viewkind4\\uc1\\pard\\cf1\\fs28 ..Title\\par\n\\cf0\\b Funding for The Moreland Phase II Affordable Housing Development (Ordinance S-53026) - District 8\\par\n\\b0\\par\n\\cf1 ..Description\\par\n\\cf0 Request to authorize the City Manager, or his designee, to allocate up to $10 million from Housing Department funding sources including HOME Investment Partnerships (HOME) Program, Neighborhood Stabilization Program (NSP) and other affordable housing funds. Additionally, request to allocate up to 54 Section 8 Project Based Vouchers, and take all necessary actions and execute all documents for The Moreland, Phase II, an affordable housing development. Further request authorization for the City Treasurer to accept and the City Controller to disburse all funds related to this item for the life of the agreement(s). There is no impact on the General Fund.\\par\n\\par\n\\cf1 ..Report\\par\n\\cf0\\b Summary\\par\n\\b0 To address a critical need for affordable housing in downtown Phoenix, the Housing Department issued a Request for Proposals seeking a co-developer partner to redevelop the former Deck Park Vista Apartments site into The Moreland, a new affordable multifamily rental housing project. Brinshore Development, LLC was selected to serve as co-development partner for the project with the Housing Department. The Moreland will consist of two phases with Phase II featuring 105 studio and one-bedroom units, a community room, a fitness center and other amenities. Phase I consists of 132 studio, one-, two-and three-bedroom units and is currently under construction with a completion date of February 2028.\\par\n\\par\nThe Moreland Phase II is located at 475 E. Moreland Street, and anticipated to serve seniors age 55 and over in at least 80 percent of its units, as well as include a workforce housing component of approximately 27 units. Total development costs for Phase II are estimated at $45,858,000 with other anticipated sources consisting of Low Income Housing Tax Credit equity, private mortgage, National and/or State Housing Trust Funds (applied), deferred developer fee and funding from the Phoenix Community Development and Investment Corporation. The allocated Project Based Vouchers are expected to serve low-income seniors.\\par\n\\par\n\\b Financial Impact\\b0\\par\nThere is no impact on the General Fund. Funding is available from the federal HOME and NSP Programs, and other affordable housing gap funds budgeted in the Housing Department\\rquote s Capital Improvement Plan budget.\\par\n\\par\n\\b Concurrence/Previous Council Action\\b0\\par\nOn June 18, 2025, through Ordinance S-52107, City Council approved entering into a contract with Brinshore Development, LLC to serve as co-development partner with the Housing Department, and to take other actions to complete the development of all phases of The Moreland affordable housing project.\\par\n\\par\n\\b Location\\ul\\par\n\\ulnone\\b0 475 E. Moreland Street\\par\nCouncil District: 8\\par\n\\par\n\\cf1 ..Department\\par\n\\cf0\\b Responsible Department\\ul\\par\n\\ulnone\\b0 This item is submitted by Deputy City Manager Gina Montes and the Housing Department.\\cf1\\par\n}\n"}