Council approves purchase agreement with Isaac School District to free 4.56 acres for 72 affordable units

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 the district faces significant budget pressure. Council members described the transaction as a way the city can help a school district that faces a possible receivership by enabling asset sales that are difficult for districts to complete directly.

Councilwoman Pastor described the transaction as one tool among many the district is using to address its fiscal challenges; she said the sale provides money that will help reduce school debt. The city’s statement at the meeting said the land will be resold and used to build affordable multifamily units.

The council approved the agreement by roll call. The vote was recorded as unanimous in favor.

City staff and council members framed the sale as part of a broader set of conversations about how the city and its partners can work with school districts to preserve educational services while enabling productive reuse of district property for housing.

The approval authorizes the city to complete the purchase-and-sale transaction and begin disposition consistent with the terms discussed in council briefings. The transcript does not specify the sale price or exact disposition timeline.

The city said it expects resale of the property to yield 72 affordable multifamily units; no site plan or developer contract was adopted at the meeting.