CANYON TERRACE APARTMENTS

NAMPA, ID

Canyon Terrace is a newly constructed 81 apartment affordable low income housing tax credit (Housing Credit) property located in Nampa, ID, developed by The Housing Company, a nonprofit corporation based in Idaho that has developed 16 other Housing Credit properties in Idaho. Canyon Terrace is comprised of 12 one bedroom/one bath homes, 39 two bedroom/one bath homes and 30 three-bedroom/one and a half bath homes in six three-story residential buildings and a clubhouse. Eighty apartments are designated for residents earning no more than 60 percent of area median income (“AMI”), and 15 apartments are reserved for homeless individuals for use in conjunction with Housing Choice Vouchers.

Community amenities include a clubhouse with an on-site management office, community room with kitchenette, laundry facilities, activity room, business/computer center, as well as a playground, bicycle storage, and 168 off-street parking spaces. Four apartments meet ADA requirements for persons with mobility and sensory impairment.

Within approximately 1 mile are Interstate 84, food stores, JC Penney, Gateway Shopping Center, medical center, hospital, Walmart Super Center, gas stations, pharmacy, fast food restaurants and a cinema. A middle school and high school are 2 to 2.4 miles from the property and a high school is approximately 4 miles away.

Financing included equity raised by R4 Capital from 4 percent Low Income Housing Tax Credits, tax-exempt construction and permanent mortgage financing from R4 Capital Funding, and soft loans from the Idaho Housing and Finance Association, Trinity Health, and from the City of Nampa using funds from the Community Development Block Grant program and deferred developer fee.

 

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