The NeighborWorks Capital Equity Fund, launched in partnership with National Equity Fund (NEF), was created exclusively for NeighborWorks organizations to access equitable and transparent Low-Income Housing Tax Credit (LIHTC) financing terms, helping create and preserve more affordable housing across the country. One of the first projects supported by the Fund is the rehabilitation of Casa del Pueblo Apartments in Tucson, Arizona, where the investment is helping preserve affordable housing and supportive services for low-income seniors.
More than 25 years ago, the Casa del Pueblo Apartments were developed to provide something increasingly difficult to find for low-income seniors in Tucson: stable, affordable housing with access to services and social engagement. Today, for many residents, Casa del Pueblo is far more than an apartment complex: it is a home, support system, and community hub all in one.
Hortencia, a resident, recently struggled to access consistent medical care because she lacked reliable transportation. At Casa del Pueblo’s Healthy Aging Center, Wellness Coordinator Amee Gonzalez took notice and worked one-on-one with Hortencia to help her enroll in paratransit services. With reliable transportation in place, Hortencia can now attend medical appointments regularly, improving not only her healthcare access but also her sense of autonomy and overall well-being.
Hortencia’s experience reflects the services-oriented approach to senior housing by Chicanos Por La Causa (CPLC), the nonprofit that developed and manages the property. CPLC, with roots stretching back to the civil rights movement, today serves communities across the southwest. Its nine senior housing communities totaling 539 units provide quality, safe, and affordable housing, and its Healthy Aging program services encourage both independence and dignity.
Casa del Pueblo Apartments demonstrates that model. The 96-unit community, located in the El Pueblo neighborhood of Tucson, was developed in two phases starting in 1997. It serves low-income seniors at or below 40% of AMI, many of whom live on annual incomes of less than $10,000.
Beyond affordable rents, residents like Hortencia have access to wraparound services such as health and nutrition support, educational workshops, and case management to connect with external resources. Social connection is also intentionally woven into everyday life at Casa del Pueblo. Residents gather for bingo and lotería nights, participate in wellness and exercise programs, and receive support from bilingual staff members who help foster a welcoming, accessible environment. Volunteers from the neighboring high school also contribute to activities and programming, creating meaningful intergenerational connections.
“These services enable residents to maintain their health, social engagement, and independence,” says María Jesús Cervantes, CPLC’s Vice President for Public Relations & International Affairs. “This community gives seniors a place where they feel connected and cared for.”
But after decades of service, Casa del Pueblo’s ability to continue housing residents and providing services faced challenges. Existing funding sources had not kept pace with long-term maintenance and capital replacement needs, limiting CPLC’s ability to fully address an aging structure and deferred repairs. CPLC applied for Low-Income Housing Tax Credits (LIHTC) in 2023 for these needs but was unsuccessful.
Then, in 2024, CPLC secured an equity investment through the NeighborWorks Capital Equity Fund, becoming one of seven NeighborWorks organizations included in the Fund’s inaugural $110.4 million closing.
The funding is supporting a comprehensive rehabilitation of the property while preserving nonprofit ownership and long-term affordability. Renovations include fully upgraded unit interiors, improvements to communal areas and building systems, enhanced safety features, and energy-efficient upgrades that will reduce long-term operating costs. Just as importantly, the renovation will expand the property’s ability to provide resident services. Improved community spaces will allow for a fuller schedule of programming, and the redesign will provide additional space for on-site staff to deliver personalized support and activities for residents.
“The Casa del Pueblo renovation reflects our commitment to ensuring seniors have access to safe, affordable housing and the supportive wrap-around services that help them live independently and with dignity. These services are essential in addressing social isolation and supporting overall well-being for older adults,” said Alicia Nuñez, CPLC President and CEO.
The upgrades are designed not only to improve safety and quality of life, but also to position the property for long-term sustainability over the next 15 years and beyond. A major advantage of the equity fund’s investment is allowing for a strategic and comprehensive rehabilitation, rather than piecemeal repairs or updates, according to William Mejía, Project Manager for Real Estate Development at CPLC.
The financing structure provides several other advantages, he says. By recapitalizing the property, CPLC can combine the development’s initial two phases into one, streamlining management and administrative processes. It also allows CPLC to charge fair market rates designated by HUD. And crucially, the financing agreement includes clear and fair terms that align with CPLC’s nonprofit mission: when the 15-year financing term ends, CPLC retains the first right of refusal to preserve nonprofit ownership of the building.
“That’s very important to us,” says Mejía. “We’re not looking to turn [our projects] around in 15 years for profit. This will allow us to continue our mission to offer affordable housing to our residents for many years to come.”
Construction began in late 2025 and is expected to be completed by October 2026. Even before the work is complete, residents are already expressing their enthusiasm for the renovation.
“There’s a sense of pride among the tenants,” Cervantes says. “They call this their home, and seeing the care that staff are putting into these changes, they know that we are working to take care of them.”
For residents, developments like the Casa del Pueblo Apartments provide both housing and a home. Financing from the NeighborWorks Capital Equity Fund means preserving not only affordable housing, but also a vibrant senior community where residents can remain connected, supported, and independent.
