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Council approves purchase agreement with Isaac School District to free 4.56 acres for 72 affordable units
Summary
Phoenix approved a purchase-and-sale agreement with Isaac School District for 4.56 acres that will be resold for affordable multifamily housing, a move intended to both create housing and help the district address budget shortfalls.
The Phoenix City Council on Feb. 19 approved a purchase-and-sale agreement that will allow the city and Phoenix Industrial Development Authority to acquire 4.56 acres from Isaac School District for resale to developers planning affordable multifamily housing.
City officials said the sale will enable the creation of 72 new affordable multifamily units and will provide immediate revenue to Isaac School District at a time when…
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