The Rincon Manor project, which aims to increase affordable housing in Tucson, has received $1 million in gap financing from the Pima County Board of Supervisors.
Rincon Manor, which is close to 12th Avenue and Valencia Road, will have 84 rental apartments, including 63 one-bedroom and 21 two-bedroom possibilities. Families making 60% or less of the local median income will be able to buy these homes for at least 30 years.
The significance of this funding was emphasized by Sofia Blue, the manager of the affordable housing section for the Community & Workforce Development Department of Pima County.
“With construction prices climbing, gap funds can be the difference between getting projects off the ground and over the finish line,” Blue stated.
In accordance with the recommendations of the Pima County Regional Affordable Housing Commission, this project represents the third round of gap financing approvals. The commission was established in October 2022 and has since directed the distribution of around $11 million for 19 projects, creating 1,332 units of affordable housing throughout the county.
The Board of Supervisors has continuously set aside at least $5 million every year from the general fund to support Pima County’s efforts to provide affordable housing.
