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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.

Bradshaw Senior II

Bradshaw Senior II

Senior Housing

The Bradshaw Senior Phase II project consists of 46 senior apartments in three new construction buildings at the Bradshaw Senior Community in Prescott, Arizona. Eight of the residences are available to households at or below 40 percent of the Area Median Income (AMI), ten to those at 50 percent of AMI and 28 units to those at 60 percent of AMI.

The construction of the Bradshaw Senior Community coincided with other new developments in the area, including a new library, city hall, police department and grocery store. The Prescott Valley area was projected to add more than 125 new senior renter households annually through 2014, which will only increase demand in what is already a tight market for affordable senior units. Many of the other senior housing developments in the area have long waiting lists.

The sponsor of both phases of the Bradshaw Senior Community is WESCAP Investments, a company started by Bill Spreitzer, who had developed and rehabilitated more than 2,200 units of housing as of 2011, including 1,200 LIHTC units. Recently, WESCAP has been very active in the Prescott Valley area, and as of 2011 had completed three LIHTC communities in Prescott Valley?s Civic Center area alone.


Project Details

Completed
2011
Location
123 Bradshaw Drive
Prescott, AZ
Project Type
New Construction/Elderly
Total Units
46
Mix of Residences
18 - 1 BR
28 - 2 BR
Limited Partnership
Bradshaw Senior II/Prescott, LP
Tax Credit Equity
$6.5 million
Total Project Costs
$10.0 million
Sponsor
WESCAP Investments, Inc.
Permanent Lenders
US National Bank
Arizona Department of Housing
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