Comite de Bien Estar (Comite) brings a new 100-unit, 9% Low-Income Housing Tax Credit (LIHTC) affordable housing project to a mixed-use neighborhood in the southwestern corner of Yuma County. The Valley View Apartments will be built on seven acres, approximately 1.6 miles north of the US-Mexico international border and situated in the heart of downtown San Luis with schools and parks adjacent to the site. The energy-efficient complex will consist of 13 buildings housing two-, three- and four-bedroom apartments, plus an administrative office, storage area, laundry room, and a 3,000 SF multi-use center for residents.
Community Housing Capital provided an $860,000 acquisition and predevelopment loan to Comite as part of the project's capital stack. CHC will also provide a $16.8 million construction loan and a $4 million permanent loan. Valley View is also only one of 13 LIHTC projects around the state to be approved by the Arizona Department of Housing for tax credits through the state agency's program for 2020. The Valley View Apartments will set aside 40 units for families with children and will be affordable to households earning up to 50% of the area median income. Tony Reyes, executive director of Comite, said he hopes construction can begin on the apartment complex in early 2021.
Comite has arranged for a tenant service coordinator who will schedule educational services for the tenants, including a literacy program and tutoring held after-school, five days a week. A computer lab will be available to all residents, along with computer classes and Comite's housing counseling and rental assistance programs.
Comite de Bien Estar is a multifaceted community development organization that strives to improve and serve the residents of San Luis, Arizona, and its surrounding areas. Comité works to empower residents to overcome the many barriers they face, including very-low wages, little access to conventional mortgage financing, and to overcome environmental limitations that impact their quality of life.