| This is the pilot project for Accessible Housing
Specialists. These units were built in 1959 and are located in
Tempe Arizona with a 2 mile walk to main campus of Arizona State
University. There are 3 public bus stops within a 1/2 mile
radius. There is also plenty of shopping, dining and
entertainment available within Scottsdale and Tempe. Each unit was in a state of deterioration which required a complete remodel to comply with current building and safety codes. Fortunately, this provided the opportunity to make some design modifications and incorporate some Universal Design Principles which would allow the property to be accessible for individuals with disabilities and our senior population. For a private investors viewpoint, the money spent on this project has created a very strong ROI and over a 30% increase in cash flow. Most notably, we were able to keep the rents about $150 below the average market rents and still achieve these results. With the help of many local agencies and community resources for affordable and accessible housing these units were rented out within 2 weeks and without any out of pocket costs.
|
 |