Evidence version 1 · project description
Project description: Riverbend rental homes
Showing evidence version 1 (ev_riverbend_1), the deal's active version.
A synthetic document, split into the passages a draft memo can quote. The table below lists the facts the checks read from it, each with the passage that states it. The deal and its documents · Evidence versions.
Location
The homes are located in Tucson and South Tucson, Pima County, Arizona, within three school attendance zones where median rents rose 31 percent between 2021 and 2025.
cited as project-description/pd-1
Units and affordability
The project acquires and rehabilitates 42 single-family and duplex rental homes, in addition to the 42 rental homes the trust already holds. All 42 homes will be rented to households at or below 60 percent of area median income under a 30-year affordability covenant.
cited as project-description/pd-2
Timeline and budget
Acquisition of the first 20 homes is under contract for closing within 90 days of funding; the remaining 22 are expected within 18 months. The total project budget is $1,400,000: $1,008,000 for acquisition (an average of $24,000 per home, a below-market price agreed with a single seller on condition that the homes stay affordable), $357,000 for rehabilitation (an average of $8,500 per home), and $35,000 for closing costs and reserves.
cited as project-description/pd-3
Community outcomes
The trust projects that the 42 homes will house about 130 residents, including 55 children, and will preserve affordability in neighborhoods where investor purchases accounted for 24 percent of sales in 2024.
cited as project-description/pd-4
Facts the checks read from this document
Wide table: scroll sideways to see every column.
| Fact | Value | Stated in |
|---|---|---|
| Project state stored as project_state | AZ | Location |
| Project county stored as project_county | Pima | Location |
| Affordable homes stored as units_affordable | 42 | Units and affordability |
| Household income limit (share of area median income) stored as ami_pct | 60% | Units and affordability |
| Affordability measure stored as impact_metric | 42 homes to be rented to households at or below 60 percent of area median income under a 30-year affordability covenant | Units and affordability |
| Total project budget stored as total_project_budget | $1,400,000 | Timeline and budget |
| Acquisition budget stored as acquisition_budget | $1,008,000 | Timeline and budget |
| Acquisition cost per home stored as acquisition_cost_per_home | $24,000 | Timeline and budget |
| Rehabilitation budget stored as rehabilitation_budget | $357,000 | Timeline and budget |
| Rehabilitation cost per home stored as rehab_cost_per_home | $8,500 | Timeline and budget |
| Closing costs and reserves stored as closing_costs_and_reserves | $35,000 | Timeline and budget |