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Flagstaff council approves Lone Tree Ranch deal to build 168 income-restricted rental units
Summary
The Flagstaff City Council approved zoning changes, development-standard modifications and a development agreement enabling the 100% affordable Lone Tree Ranch project, which will deliver 168 rental units income-restricted to an average of 60% area median income for at least 30 years.
The City of Flagstaff on March 17 approved a package of actions to advance Lone Tree Ranch, a 100% affordable housing development planned at the northeast corner of Lone Tree Road and Pine Knoll Drive.
Council members voted to adopt a rezoning ordinance, approve six requested modifications to property development standards and authorize a development agreement that commits the developer to income-restricted rentals averaging up to 60% of area median income (AMI) for a minimum of 30 years. Staff and the applicant said the project would provide 168 affordable units and qualify for federal low-income housing tax credits.
Planning staff explained the six modifications: removal…
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