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Developer seeks tax credits and city support to convert Hotel Montezuma into seniors— affordable housing
Summary
Allied Argenta told the Nogales council it plans a 50–55-unit affordable renovation of the historic Hotel Montezuma, seeking $19.3M in LIHTC and $100k-equivalent local support plus 13–14 project-based vouchers; the city discussed parking, floodplain and preservation issues.
Yvonne Galgo of Allied Argenta presented a plan on Dec. 3 to convert the historic Hotel Montezuma in downtown Nogales into about 50–55 affordable housing units, primarily one-bedroom apartments targeted to seniors and to adults with intellectual and developmental disabilities, with a preference for veterans.
Galgo said the team expects total project costs around $24,300,000 and plans to apply to the Arizona Department of Housing for 9% Low-Income Housing Tax Credits. "We are looking at requesting about 19,300,000.0 in low income housing tax credits," she told council, and said the developers would also pursue…
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