Analeise Mayor
A new lower-cost housing complex for seniors being built in downtown Tucson got a $22.6 million investment from CVS Health, officials announced Monday.
Gov. Katie Hobbs joined officials from CVS Health, as well as Dan Ranieri, president and CEO of La Frontera Center, to announce the construction of the new West Point II Apartments, near East Broadway and South Stone Avenue. It is the latest in a statewide push to create new, affordable, housing options for Arizonans.
“Housing is the thread that weaves through every aspect of our lives,” Hobbs said. “Whether it’s finding and keeping a job, staying healthy, or starting a family, having stable housing makes all the difference.”
Hobbs, who has a background in social work, said that the need for stable housing is even more pressing for seniors and those with disabilities, who make up a disproportionate share of the unhoused population.
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“It is critical that in our efforts to build more affordable housing, we prioritize the most vulnerable populations,” Hobbs said.
According to Joel Helle, vice president of physician services at CVS Health, the company purchased the tax credits from La Frontera through the federal government’s Low Income Housing Tax Credit program, as part of their commitment to community health in Arizona.
“We’re really excited about our investment,” Helle said. “We want to make it equally equitable for patients regardless of how much money they have, how old they are, who they are, to have access to healthcare, and housing is the first step.”
The partnership, which also includes Red Stone Equity Partners, has been a pleasant surprise, said Ranieri.
“This is the first time we’ve actually had an equity partner who’s wanted to be involved in the project,” Ranieri said. “That has never happened before. And in fact, not only did they purchase tax credits, but they gave us a sizable grant to be used for supportive services for the residents.”
The extra $100,000 grant will go to funding the support programs offered to residents including mental health services, food pantries and medical assistance.
“We really want to work together with La Frontera, understand what they’re doing, understand the suite of services, delivery efforts and programs that they have, and invest in those too,” Helle said.
Since 2008, La Frontera has developed 11 affordable housing projects using low-income tax credits, totaling over 1,000 apartments and other dwellings, the majority of which, Ranieri said, were built as housing for low income seniors.
The new West Point II Apartments, which Ranieri said he expects will open in late spring or early summer of next year, will contribute 85 of those units.
A portion of the units will be available to individuals 55 and up, who earn 40% or below of the median area income, or below $25,000 a year, and another percentage of the units will be given to people who earn 60% or less of the median area income, or less than $37,500 a year, according to Ranieri.
“In addition to that, about 30% of the units, so around 26 units, have rental subsidies that go with them, and they’re specifically reserved for eligible seniors who have a defined disability,” Ranieri said.
Within the new apartments, a certain number of units will be fully accessible, but Ranieri said that every unit can be adapted to an accessible format within 24 hours as necessary.
The new apartment complex will be nearly identical to the original West Point Apartments, offering all the same services and amenities, including clean, modern design, a full service gym, a warming kitchen, meeting rooms, a classroom area, and other lounge spaces. Other highlights in West Point I include a pool table, card table, computer rooms and coordinated social activities.
“One of the things that’s important to us is that we try to develop a sense of community,” Ranieri said. “People are happier, they stay longer, they take better care of the properties, so that’s really a goal of ours.”
Rose Cain, a 5-year resident of West Point Apartments spoke at the event Monday afternoon. Through tears, she expressed how much the community at West Point meant to her.
“I was led to West Point when it was most needed,” Cain said. “Being without a safe, stable home can happen to anyone at any time in life.”
“West Point isn’t only a place to live, it’s an extended family,” she said.
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