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Seeking Development Partner – 36-Unit Supportive Housing, Phoenix (Phoenix)
license info:
Arizona Board of Technical Registration - Architect
offered in person
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Licensed Arizona architect seeking an experienced developer or nonprofit sponsor to partner on a 36-unit supportive housing community in Phoenix for veterans, adults with disabilities and frail elders.
WHAT'S READY
• Original courtyard design: 3-story wood frame, ~14,000 sf, ~0.34-acre footprint
• 36 units plus an on-site services core (front desk, case management, telehealth, community room)
• Concept plans, elevation, unit mix and preliminary budget
• Funding strategy built on public programs: 9% LIHTC, City of Phoenix gap financing, state housing funds, and project-based VASH / Section 811 vouchers
• Aligned with the City's 2026–27 funding priorities and the 2027 city-owned land RFPs
DEAL ECONOMICS (preliminary estimates)
• Total development cost ~$4.6M; about 65% funded by 9% LIHTC equity, with the rest from city and state gap loans and a grant
• Developer fee ~$350K, within state limits and split per the co-development agreement
• Little or no hard debt needed; voucher-backed rents
• Estimated stabilized net operating income ~$165K a year before debt
LOOKING FOR
• A developer or nonprofit with affordable or supportive housing experience
• Ability to provide predevelopment funding, guarantees and property management (or a management partner)
• A co-development arrangement: you lead the deal; I lead design, applications and coordination
TIMING
The City of Phoenix Call for Interest opens November 16. I'd like to meet potential partners in the next few weeks.
If you've been looking for a project that pencils and also lets you sleep well at night, let's talk. Reply with a short description of your experience and recent projects. A concept brief is available after an introductory call.
Figures are preliminary planning estimates, not projections of investor returns. This post invites discussion of a development partnership and is not an offer of securities.
Principals only, please. No brokers or unsolicited services.