Walker & Dunlop, through their Affordable Equity team led by Aaron Krasnow, has secured $23.9 million in construction equity for the development of Emberwood – a new senior affordable housing apartment complex in Casa Grande, Arizona.
The client behind this project is Roers Companies and the equity was arranged through a syndication of 4% LIHTC (Low-Income Housing Tax Credits) and REITC (Real Estate Investment Trust Credits).
Emberwood will cater to residents aged 55 and over with its 176 units spread across an 8.24-acre property. The community will consist of a three-story low-rise building as well as a separate single-story community center. Elevator access will be available throughout the building which includes 55 one-bedroom apartments and 121 two-bedroom apartments.
Located next to a recently opened community recreation center that offers various programs for seniors, Emberwood is set to provide convenient living options for its residents.
Roers Companies is known for their expertise in multifamily real estate with capabilities spanning from development and construction to property management. With over 13,000 units either built or under construction, they are well-equipped to bring this exciting new project into fruition.
Overall,the planned senior living community at Casa Grande promises convenience,safety,and comfortfor its future residents while also contributing positively towards addressing affordable housing needs within the area.
