PHOENIX (3TV/CBS 5) -- A new affordable housing complex opened in central Phoenix on Tuesday, helping aid some of the housing crunch in the Valley. The three-story townhomes, located near 15th Avenue and Camelback Road, were funded in part due to a grant.
Trellis, an Arizona nonprofit, worked with JPMorgan Chase and Community Housing Capital to build new housing located near light rail and other community resources. “These townhomes are in an area and of a quality that would be unreachable for most middle-income households" said Beth Jo Zeitzer, President & Designated Broker of R.O.I. Properties.
The complex is comprised of four buildings, and there are two floor plans -- one that's more than 1,600 square feet and one that's just under 1,400 square feet. Each unit features two bedrooms on the top floor, the main living area and kitchen on the middle floor, and a private one-car garage, private patio yard, and a den or another living area on the ground floor. According to the community's website, the homes are energy-efficient, solar-ready, WiFi-enabled, and smart home ready.
The "Trellis@Colter" homes, which are zoned as "workforce housing," are expected to sell for less than $300,000. The down payment is at least 3.5% with FHA loans or 3% with conventional loans.