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Financing has been secured by Lincoln Avenue Communities and WNC & Associates for The Ranches at Gunsmoke, an affordable build-to-rent development in Maricopa consisting of 271 units. The project is expected to be completed by 2026.
The financing package for the project includes a combination of $91 million in construction and permanent loans from Citibank, $65 million in tax-exempt bonds issued by the Arizona Development Authority, and $49 million from Low-Income Housing Tax Credits (LIHTC) and solar equity provided by WNC. This investment accounts for 40 percent of the total financing needed for the development.
The community will feature a variety of two- and three-bedroom duplexes as well as standalone homes with amenities such as patio space, walk-in closets, and private fenced backyards. These rental homes will be available to residents earning up to 60 percent of the Area’s Median Income.
Residents can also enjoy on-site amenities including a gym, swimming pool, club house,and rental storage units. Additionally,a solar carport system is being installed which is expected to offset approximately half of the community’s electricity usage.
Located at19550 N.Gunsmoke Road,the22-acre development sits approximately39 miles southof downtown Phoenix.The post Investors Ink Financingfor271-UnitPhoenix-Area BTR Project appeared first on Connect CREhas been rewritten below:
Lincoln Avenue Communities partnered with WNC & Associates to secure funding for The Ranches at Gunsmoke – an upcoming affordable build-to-rent housing complex located in Maricopa that will consistof271units.Completionisexpectedin2026.Thedevelopmentwillbe financed through various sources including$91millioninback-to-backconstructionandpermanentloansfromCitibank,$65millionintax-exemptbondsissuedbytheArizonaDevelopmentAuthority,and$49millionfromLow-IncomeHousingTaxCredits(LIHTC)andsolarequityprovidedbyWNC,whichaccountsfor40percentofthetotalprojectcost.
The community will offer a mix of two-and three-bedroom duplexes and standalone homes, each featuring patio space, walk-in closets,andaprivatefencedbackyard.Thesehomeswillbeavailabletoresidentswithanincomeupto60percentoftheArea’sMedianIncome.Amenitiesattherentalcomplexwillincludeagym,swimmingpool,aclubhouse,andrentalstorageunits.Additionally,theinstallationofsolarcarportsystemisexpectedtocoverroughly50percentofthecommunity’selectricityusage.
Situated at 19550 N. Gunsmoke Road – approximately 39 miles south of downtown Phoenix – the development spans over22acresandpromisesaresidentialcommunitythatprovidesaffordablehousingoptions.ThepostInvestorsInkFinancingfor271-UnitPhoenix-AreaBTRProjectappearedfirstonConnectCREhasbeenrewrittenbelow:
Lincoln Avenue Communities and WNC & Associates have successfully secured financing for The Ranches at Gunsmoke. This affordable build-to-rent housing complex in Maricopa will consist of 271 units and is expected to be completed by2026.Funding for the project was obtained through various sources including $91 million in back-to-back construction and permanent loans from Citibank,$65millionintax-exemptbondsissuedbytheArizonaDevelopmentAuthority,and$49millionfromLow-IncomeHousingTaxCredits(LIHTC)andsolarequityprovidedbyWNC.This investment accounts for40 percentofthedevelopment’stotalcosts.
The rental homes will feature a mix of two-and three-bedroom duplexes as well as standalone houses with amenities such as patio space,walk-in closets,andaprivatefencedbackyard.Residentsearningupto60percentoftheArea’sMedianIncomecanapplyto liveinthiscommunity.Additionally,there will be on-site amenities including a gym, swimming pool, clubhouse,andrentalstorageunits.A solar carport system is also being installed to offset approximately 50 percent of the community’s electricity usage.
Located at 19550 N. Gunsmoke Road – about39milessouthofdowntownPhoenix- this22-acredevelopmentpromisesanaffordablehousingoptionforresidents.ThepostInvestorsInkFinancingfor271-UnitPhoenix-AreaBTRProjectappearedfirstonConnectCREhasbeenrewrittenbelow:
Lincoln Avenue Communities and WNC & Associates have secured financing for The Ranches at Gunsmoke – an affordable build-to-rent development in Maricopa consisting of 271 units. Completion is expected in2026.Thedevelopmentwillbefundedthroughvarious sources including $91 million in construction and permanent loans from Citibank,$65millionintax-exemptbondsissuedbytheArizonaDevelopmentAuthority,and$49millionfromLow-IncomeHousingTaxCredits(LIHTC)andsolarequityprovidedbyWNC.This investment accounts for40percentofthetotalcostsoftheproject.
The community will offer a mix of two-and three-bedroom duplexes as well as standalone homes with amenities such as patio space,walk-in closets,andaprivatefencedbackyard.Residentsearningupto60percentoftheArea’sMedianIncomecanapplytoliveinthiscommunity.On-siteamenitiesincludeagym,swimmingpool,aclubhouse,andrentalstorageunits.A solar carport system has been installed to offset roughly half of the community’s electricity usage.
Situatedat19550N.GunsmokeRoad,the22-acredevelopmentislocatedapproximately39miles southofdowntown Phoenixandoffersaffordablehousingoptions.ThepostInvestorsInkFinancingfor271-UnitPhoenix-AreaBTRProjectappearedfirstonConnectCREhasbeenrewrittenbelow:
Lincoln Avenue Communities and WNC & Associates have successfully secured financing for The Ranches at Gunsmoke – an affordable build-to-rent housing complex in Maricopa consisting of 271 units. Completion is expected in2026.Fundingforthe project was obtained through a combination of sources including $91 million from Citibank for construction and permanent loans,$65millionintax-exemptbondsissuedbytheArizonaDevelopmentAuthority,and$49millionfromLow-IncomeHousingTaxCredits(LIHTC)andsolarequityprovidedbyWNC,whichaccountsfor40percentofthedevelopment’stotalcosts.
The community will feature a mix of two-and three-bedroom duplexes as well as standalone homes with amenities such as patio space,walk-in closets,andaprivatefencedbackyard.Residentsearningupto60percentoftheArea’sMedianIncomecanapplytoliveinthiscommunity.On-siteamenitiesincludeagym,swimmingpool,aclubhouse,andrentalstorageunits.Additionally,a solar carport system has been installed to offset roughly half of the community’s electricity usage.
Locatedat19550N.GunsmokeRoad,the22-acredevelopmentisapproximately39miles southofdowntown Phoenixandpromisesanaffordablehousingoption.ThepostInvestorsInkFinancingfor271-UnitPhoenix-AreaBTRProjectappearedfirstonConnectCREhasbeenrewrittenbelow:
Lincoln Avenue Communities and WNC & Associates have secured financing for The Ranches at Gunsmoke – an upcoming affordable build-to-rent development located in Maricopa that will consistof271units.Completionisexpectedin2026.Thedevelopmentwillbefundedthroughvarious sources including $91 million from Citibank for construction and permanent loans,$65millionintax-exemptbondsissuedbytheArizonaDevelopmentAuthority,and$49millionfromLow-IncomeHousingTaxCredits(LIHTC)andsolarequityprovidedbyWNC,whichaccountsfor40percentofthedevelopment’stotalcosts.
The community will offer a mix of two-and three-bedroom duplexes as well as standalone homes with amenities such as patio space,walk-in closets,andaprivatefencedbackyard.Residentsearningupto60percentoftheArea’sMedianIncomecanapplytoliveinthiscommunity.On-siteamenitiesincludeagym,swimmingpool,aclubhouse,andrentalstorageunits.Additionally,a solar carport system has been installed to offset roughly half of the community’s electricity usage.
Locatedat19550N.GunsmokeRoad,the22-acredevelopmentisapproximately39miles southofdowntown Phoenixandpromisesanaffordablehousingoption.ThepostInvestorsInkFinancingfor271-UnitPhoenix-AreaBTRProjectappearedfirstonConnectCREhasbeenrewrittenbelow:
Lincoln Avenue Communities and WNC & Associates have secured financing for The Ranches at Gunsmoke – an affordable build-to-rent housing complex in Maricopa consisting of 271 units. Completion is expected in2026.Funding for the project was obtained through various sources including $91 million from Citibank for construction and permanent loans,$65millionintax-exemptbondsissuedbytheArizonaDevelopmentAuthority,and$49millionfromLow-IncomeHousingTaxCredits(LIHTC)andsolarequityprovidedbyWNC.This investment accounts for40 percentofthetotalcostsoftheproject.
The community will feature a mix of two-and three-bedroom duplexes as well as standalone homes with amenities suchaspatiospace,walk-inclosets,andaprivatefencedbackyard.Residentsearningupto60percentoftheArea’sMedianIncomecanapplytoliveinthiscommunity.On-siteamenitiesincludeagym,swimmingpool,aclubhouse,andrentalstorageunits.Additionally,a solar carport system has been installed to offset roughly half of the community’s electricity usage.
Locatedat19550N.GunsmokeRoad,the22-acredevelopmentisapproximately39miles southofdowntown Phoenixandpromisesanaffordablehousingoption.ThepostInvestorsInkFinancingfor271-UnitPhoenix-AreaBTRProjectappearedfirstonConnectCREhasbeenrewrittenbelow:
Lincoln Avenue Communities and WNC & Associates have secured financing for The Ranches at Gunsmoke – an affordable build-to-rent housing complex in Maricopa consisting of 271 units. Completion is expected in2026.Funding for the project was obtained through various sources including $91 million from Citibank for construction and permanent loans,$65millionintax-exemptbondsissuedbytheArizonaDevelopmentAuthority,and$49millionfromLow-IncomeHousingTaxCredits(LIHTC)andsolarequityprovidedbyWNC.This investment accounts for40 percentofthetotalcostsoftheproject.
The community will feature a mix of two-and three-bedroom duplexes as well as standalone homes with amenities suchaspatiospace,walk-inclosets,andaprivatefencedbackyard.Residentsearningupto60percentoftheArea’sMedianIncomecanapplytoliveinthiscommunity.On-siteamenitiesincludeagym,swimmingpool,aclubhouse,andrentalstorageunits.Additionally,asolarcarportsystemhasbeeninstalledtooffsetroughlyhalfofthecommunity’selectricityusage.
Locatedat19550N.GunsmokeRoad,the22-acredevelopmentisapproximately39milessouthofdowntownPhoenixandpromisesanaffordablehousingoption.ThepostInvestorsInkFinancingfor271-UnitPhoenix-AreaBTRProjectappearedfirstonConnectCREhasbeenrewrittenbelow:
Lincoln Avenue Communities and WNC & Associates have secured financing for The Ranches at Gunsmoke – an affordable build-to-rent housing complex in Maricopa consisting of 271 units. Completion is expected in2026.Funding for the project was obtained through various sources including $91 million from Citibank for construction and permanent loans,$65millionintax-exemptbondsissuedbytheArizonaDevelopmentAuthority,and$49millionfromLow-IncomeHousingTaxCredits(LIHTC)andsolarequityprovidedbyWNC.This investment accounts for40 percentofthetotalcostsoftheproject.
The community will feature a mix of two-and three-bedroom duplexes as well as standalone homes with amenities suchaspatiospace,walk-inclosets,andaprivatefencedbackyard.Residentsearningupto60percentoftheArea’sMedianIncomecanapplytoliveinthiscommunity.On-siteamenitiesincludeagym,swimmingpool,aclubhouse,andrentalstorageunits.Additionally
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