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Council approves $528,000 loan tied to Elkwood Apartments affordability extension

Flagstaff City Council · November 5, 2025

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Summary

Council approved a $528,000 loan to Wexford Development to secure 10% affordable units at the Elkwood Apartments; the loan program offers pro rata forgiveness if affordability extends to 50 years. Staff said the first buildings will come online late 2025–spring 2026 and that units will be distributed across phases.

The Flagstaff City Council voted Nov. 4 to approve a $528,000 loan to Wexford Development to support inclusion of affordable units in the Elkwood Apartments development.

Jennifer Michaelson, the city’s housing planning manager, said Elkwood was initially approved in 2020…

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