CDFI/Stories/Commercial Real Estate/8th & Farmer, LLC

8th & Farmer, LLC

$14.7 Million to Construct a New 171-Unit Apartment Complex
$14.7 Million to Construct a New 171-Unit Apartment Complex

Clearinghouse CDFI provided $14.7 million in financing to 8th & Farmer, LLC for the construction of a new, 171-unit apartment complex in downtown Tempe, AZ. Located in the Farmer Arts district, the building will offer studio, one-, and two-bedroom apartment homes situated above retail space.

Construction of the six-story complex will create 150 full-time construction jobs and 50 part-time jobs. The new building will house 250 residents and offer an alternative housing option for students attending the nearby Arizona State University.

This project was made possible through a $35 million financing partnership with
Bridge Bank.

Download the PDF: Just Funded – 8th & Farmer, LLC

Financing Provided: $14.7 Million
Location: Tempe, AZ
Impact:

150 full-time construction jobs &
50 part-time jobs created

Purpose:

Create 171 new apartment homes in Farmer
Arts district

Year Funded: 2019

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