Rainbow Partnership Secures Arizona Department of Housing LIHTC Award

In January 2012, the Arizona Department of Housing put out a request for proposals for an acquisition/rehabilitation affordable housing project in Phoenix. Arizona-based Hope Development, LLC asked Rainbow Housing Assistance Corporation (Rainbow) to collaborate on the proposal in an effort to meet the compliance regulations for providing supportive services. Earlier this month, $20 million in tax credits were awarded for development of several low-income projects across the state – this project, Villas at Pasadena, included.

Per the arrangement, Hope Development will provide a community center for Rainbow from which to deliver resident services. Rainbow will provide a broad range of services including: educational afterschool programs, resource management and financial literacy courses, job search training and placement assistance, computer skills classes, and community building efforts in conjunction with local law enforcement. The new resource center, staffed by a part-time Rainbow employee, will include a computer lab, work stations, activity space, and a resource board displaying events happening at the site as well as resources in the broader community available to residents .

Rainbow’s expertise in delivering award-winning, service-enriched housing programs helped secure the project as the agency bestowed additional points and consideration for proposals that included supportive services. “We continue to be committed to developing quality, affordable housing with strong partners to best serve communities in need. We look forward to working with Rainbow Housing in this shared mission,” said Julie Hyatt of Hope Development.

Villas at Pasadena is a split site group of eight buildings located in southwest Phoenix. The successfulness of this partnership emphasizes the importance of including supportive services at low-income assets. Rainbow’s Executive Director, Flynann Janisse, said, “Rainbow’s proven ability to deliver programs and services that support development and the preservation of sustainable communities offers an advantage to developers validating the core investment in community development.”

About Hope Development
Hope Development, has focused on developing, constructing, and operating quality, affordable communities in both rural and metropolitan areas in Arizona, Idaho, and New Mexico.  Particular emphasis is on the use of affordable housing tax credits and the USDA Rural Development programs.

Hope Development’s mission is for every person to live in an affordable home in a strong vibrant community that promotes empowerment. Each day through our shared commitment, families move into quality housing, seniors live in security, the homeless find shelter, and lives are improved.

About Rainbow
Rainbow’s mission is to enable families and individuals of all ethnic backgrounds to maintain a self-sufficient and independent lifestyle.  Offer stable and supportive housing while supporting the social and economic well-being of all residents through onsite social services.

Media Contact:
Justin Walker (480) 719-7498