Blackstone's April Housing and Dominium to Develop Phoenix Affordable Housing

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.