Lincoln Avenue Communities, WNC JV Closes Financing for New Affordable BTR Housing Development in Maricopa, 271-unit Ranches at Gunsmoke

11/5/2024

|

InBusiness

• Subcategory: Capital Markets: Debt, MF: Affordable, MF: BTR

• Tag: Closing | JV-Partnership | New Construction

• Additional Filters-Subcategory: Capital Markets: Equity-Low Income Housing Tax Credits (LIHTC), MF: BTR-Casita, MF: BTR-SFR

Lincoln Avenue Communities, a mission-driven acquirer and developer of affordable housing, today announced that it has closed financing for the construction of The Ranches at Gunsmoke, a ground-up development in partnership with WNC & Associates (WNC) that will create 271 new affordable homes for families in Maricopa earning no more than 60% of the Area Median Income.

“We’re thrilled to collaborate with WNC on our third ground-up development in central Arizona,” said LAC CEO Jeremy Bronfman. “LAC is proud to now have over 800 units of high-quality affordable housing for individuals and families under construction in Pinal County.”