Blackstone through its affordable housing portfolio company, April Housing, and Dominium will develop Casa Azure, which will bring 196 new affordable housing units to Phoenix, AZ. Blackstone will provide $31 million of tax credit equity to support the development of this community. This increases Blackstone and April Housing's commitment to expand the affordable housing stock in Maricopa County to a total of 568 new LIHTC units through $79 million of investments.
Casa Azure is an age-restricted, seniors' property, which will be available to those earning at or below 60 percent of the area median income. The property will feature several community amenities including a pool, clubhouse, library and fitness center. Casa Azure also utilizes solar panels on the roofs of its carports and ION water systems to help save energy and water.
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