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Tucson IDA Issues $85M Bond for the Tucson House

The Tucson IDA is investing $85M in the Tucson House for the Thrive in the '05 initiative in light of the HUD $50M Choice Neighborhoods Implementation Grant to the City of Tucson.

The U.S. Department of Housing and Urban Development (HUD) has announced the awarding of Choice Neighborhoods Implementation (CNI) Grants totaling $370M to eight communities throughout the country earlier this month.

The Choice Neighborhood Implementation plan revolves around three components: Housing, People, and Neighborhoods. The focal point of the City’s CNI Housing Plan will be the rehabilitation of Tucson House, the City’s largest public housing facility with 408 units in 17-stories.

In the 60's, the Tucson House was originally constructed as a state-of-the-art high rise and regarded as the most luxurious residential building in Tucson. Today, Tucson House is occupied by some of the City's most vulnerable residents – primarily elderly and those experiencing housing instability. With the incredible advocacy and work of our City staff and officials, the City of Tucson was awarded a highly-competitive $50M grant for the Tucson House public housing property and surrounding Oracle area.

The $50M grant will accelerate the City's efforts to create more than 550 new or rehabilitated housing units, establish an extensive support system for residents in the Tucson House, and strengthen ongoing public investments in the 2.3 square mile Oracle Road and Miracle Mile area known as Thrive in the '05.

Additionally, the $50 million grant will allow the City to leverage federal funds for an additional $300 million from public, private, and non-profit sources, including the Tucson IDA's $85 million commitment. We are proud to amplify and support this transformative public housing project!


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