By Home Matters Arizona Fund and Home Matters to Arizona
The Home Matters Arizona Fund, an innovative funding resource formed by Arizona healthcare leaders and Home Matters to Arizona to increase attainable housing in the state and ultimately improve health outcomes, has announced new funding.
Four projects in Flagstaff, Phoenix, Tempe, and Tucson will receive a total of $2M. Since 2020, the Home Matters Arizona Fund has provided $10.3M through 24 grants.
The Fund addresses Arizona’s rising affordability crisis while paying attention to the role of social determinants of health and housing as a quality of life issue. Housing built by these grants will serve Arizona Health Care Cost Containment System-eligible individuals and families.
Home Matters Arizona Fund will invest in projects that serve individuals and families with low to moderate income, veterans, seniors, people who are homeless, people with disabilities, individuals involved with the justice system and those eligible for AHCCCS support.
Local Initiatives Support Corporation, a national community development financial institution with a local office based in Phoenix, administers the grant funds and facilitates the review of proposed projects.
The recent grant recipients are:
Family Housing Community Development Corporation
- Project: 192-unit Residences at Falcon Park
- Total Development Cost: $44.99M
- Grant: $500K
- Address: 1220 N. 34th Ave., Phoenix
- Construction Completion Estimate: Jan. 31, 2025
Copa Health
- Project: 104-unit La Victoria Commons
- Total Development Cost: $36.6M
- Grant: $500K
- Address: 2320 E. Apache. Blvd, Tempe
- Construction Completion Estimate: December 31, 2025
La Frontera Partners
- Project: 85-unit West Point Apartments II
- Total Development Cost: $28.8M
- Grant: $500K
- Address: 18 E. Ochoa, Tucson
- Construction Completion Estimate: Oct. 31, 2025
Flagstaff Shelter Services
- Project: 103-unit The Lantern
- Total Development Cost: $740K
- Grant: $500K
- Address: 2440 E. Lucky Lane, Flagstaff
- Construction Completion Estimate: June 30, 2024