The Flagstaff City Council has approved nearly $3.5 million to build 139 affordable rental units in the city’s downtown area.
One apartment complex will serve seniors earning up to 80% of the area median income and another will include individuals and families earning up to 60%.
The funding comes from a 2022 voter-approved ballot proposition to support home rental and ownership in Flagstaff.
The city’s housing bond program has about $1.6 million left which will be eventually be made available.
Flagstaff’s 10-year housing plan calls for the creation of homes for all income levels.
The city council declared a housing emergency in 2020 as finding affordable homes has increasingly become unattainable for large parts of the local population.
As of last month, Flagstaff’s median home price was $770,000, according to realtor.com.
