By BEX Staff for AZBEX
The Pima County Board of Supervisors voted 4-1 on March 4 to approve a Development and Purchase Agreement with Spire Development that will allow development of an 80-unit low-income housing community.
According to a County press release, “Spire previously was selected as the winning proposer for the development of an 80-unit project located at the SEC of East Drexel Road and Bonney Avenue. The new development, to be known as Drexel Commons, will remain an affordable housing project for 30 years.”
The County sold 2.08 acres of vacant land to Spire for $200, as allowed under Arizona state law.
The Arizona Daily Star quoted the agreement terms, stating, “The property won’t be deeded to Spire until it is rezoned, ‘all tax credit allocations have been secured, all construction financing is in place, any needed equity financing has been secured, a general contractor has been selected and all necessary building permits have been issued.’”
The County release said, “The approval of the agreement supports the goals of the Prosperity Initiative, a wide-ranging set of policies adopted by the County in 2023 to reduce generational poverty in the community. Increasing housing opportunity and stability are key pillars of the Prosperity Initiative, part of the Community & Workforce Development Department.”
