Azuriik - Administrative GP / Owner

Ron Morrison

“Projects like this… long overdue in our downtown.”

Highlights

  • 24 Studios @ 30% AMI
  • 42 1BRs @ 30% AMI
  • 10 2BRs @ 30% AMI
  • 6 3BRs@ 30% AMI
  • 55 Studios @ 50% AMI
  • 75 1BRs @ 50% AMI
  • 13 2BRs @ 50% AMI
  • 6 3BRs @ 50% AMI
  • 40 Studios @ 60% AMI
  • 85 1BRs @ 60% AMI
  • 24 1BRs @ 60% AMI
  • 15 3BRs @ 60% AMI

Overview

Azuriik will consist of one, 22-story high rise apartment building containing 400 studio, one, two, and three-bedroom units, a lobby, leasing and management offices, business center, community room with kitchen, exercise room, day carefacility and preschool, and centrally located laundry facilities. Exterior amenities will include an outdoor courtyard/picnic area, playground, vegetable garden, ping pong table, foosball table, 20 bicycle parking spaces, and 221 parking spaces in a combination of on-grade and subterranean parking garages. All of Azuriik’s units will be LIHTC restricted to 30, 50, and 60 percent of the Area Median Income (AMI) with the exception of five non-revenue employee units.

Financial Model

Funding sources include tax-exempt bonds and tax credits intended to encourage construction of affordable housing for low-income residents.

Community

Partners

We were honored to work with these amazing partners on this project.