Arizona IDA Approves $116M Affordable Housing in Youngtown

The Arizona Industrial Development Authority approved a 312-unit affordable housing complex in Youngtown, with construction to begin at Peoria Avenue and Nofs Drive.

Ulysses Development Group will build the $116 million project, offering one- to four-bedroom units for residents earning less than 60 percent of area median income. The Arizona IDA board voted to serve as the conduit issuer for the bonds financing the development.

"Ulysses Development has shown it is able to bring affordable units to market to ease the state's housing crisis," Arizona IDA Executive Director Dirk Swift said.

Ulysses Development completed a similar project in Phoenix called Salt River Flats, which began leasing units in early 2024. The company received Arizona IDA bond approval for that development in 2022.