CASA GRANDE, ARIZ. — Walker & Dunlop has secured $23.9 million in equity for the construction of Emberwood, a to-be-built affordable seniors housing community in Casa Grande. Aaron Krasnow of Walker & Dunlop Affordable Equity team arranged the equity, which included 4 percent low-income housing tax credits and renewable energy investment tax credits, on behalf of the client, Roers Cos.
Situated on 8.2 acres, Emberwood will offer 176 apartments for residents aged 55 or older, along with a separate single-story community center. The three-story residential building will feature 55 one-bedroom and 121 two-bedroom apartments all with elevator access. The property will be adjacent to a 55,000-square-foot community recreation center, which opened in 2019, that offers senior programs.