Hill Street School Rehab Project Awarded Tax Credits

The Arizona Department of Housing awarded the Low-Income Housing Tax Credits (LIHTC) federal and state tax credits to 16 entities in Arizona. Melissa Steele, City of Globe Economic Development Specialist announced, “The Hill Street School, being developed by Gorman and Company, LLC, received a 9% LIHTC reservation of $1,494,188 and a $1M state tax credit allocation.” Steele continued, “The adaptive re-use of the Hill Street School, along with the new construction of a complimentary building, will create 64 units of mixed income multifamily housing targeted to seniors that will truly transform the Downtown District making the largest economic impact to the community that it has realized in decades. Gorman will not only rehabilitate the historic school building but integrate a new structure into the non-historic façade, allowing for the creation of a beautiful housing community that will retain, yet beautify, the characteristics of the neighborhood and enhance the proud history of the old Hill Street School.”