Pennrose , Butler Housing Company, CBC Financial Corp, the City of Phoenix, the Arizona Department of Housing, and project partners recently celebrated significant progress on Garfield Terrace, a $57 million, multi-phase development bringing 120 high-quality, affordable senior apartments to Downtown Phoenix’s Garfield Historic District. The event commemorated the grand opening of Garfield Terrace Phase I and the start of construction on Phase II.

Garfield Terrace I delivers a 60-unit, four-story affordable senior housing community for individuals aged 55 and older, with a mix of studio and one-bedroom apartments available. Twelve units are restricted at or below 30% AMI, six units are available at 40% of Area Median Income (AMI) and 24 are available at 50% AMI. The balance of the proper

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