National Equity Fund, Inc. National Equity Fund, Inc.

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Since 1987, National Equity Fund® has invested more than $13 billion revitalizing neighborhoods,
fostering economic growth and creating affordable sustainable housing.

Encanto Pointe Apartments

Encanto Pointe Apartments

Veterans Housing

Encanto Pointe offers 54 apartments for homeless and chronically homeless individuals in a three-story building in Phoenix’s Devonshire neighborhood. The development is designed according to the principles of Housing First, a set of strategies aimed at first establishing permanent housing for homeless people and then providing them with social services, rather than moving them between various shelters and service providers. The Housing First philosophy has been used by cities across the country to more efficiently reduce homelessness.

Nineteen of the units are restricted to households earning 40 percent of Area Median Income, while the balance of the units are restricted to 50 percent AMI. The Veterans Affairs Supportive Housing program provided ten vouchers that offer rental assistance for veterans living at Encanto Pointe.

Encanto Pointe is sponsored by Native American Connections, Phoenix’s premier non-profit provider of behavioral health services. The 1.7-acre site is located about one mile from NAC’s headquarters where additional support services are available to tenants. In addition to providing supportive services, NAC has developed, owns and operates three permanent supportive housing developments and three workforce housing developments in Phoenix.

The project was co-developed with NRP Contractors. National Equity Fund invested $6.4 million of LIHTC equity in Encanto Pointe.


Project Details

Completed
2012
Location
4175 N. 9th Street Phoenix, AZ
Project Type
New Construction/Supportive Housing
Total Units
54
Mix of Residences
54 1-BR
Limited Partnership
Encanto Pointe Housing First, LP
Tax Credit Equity
$6.4 milion
Total Project Costs
$10.6 million
Sponsor
Native American Connections, Inc.
Permanent Lenders
City of Phoenix; Republic Bank of Arizona; FHLB Federal Affordable Housing Program
Awards
2013 Readers’ Choice Finalist

2013 Charles L. Edson Tax Credit Excellence Award Honorable Mention

Brian Mickelsen Housing Hero Award,
Arizona Department of Housing
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