FLAGSTAFF — The Flagstaff City Council recently approved $3.33M in Rental Incentive Bond Program awards, which will be leveraged by other funding sources and result in 139 affordable rental units being constructed in downtown Flagstaff by the Foundation for Senior Living. The San Francisco Square Apartments will serve seniors earning up to 80% of the area median income and the Aspen Lofts Apartments will serve individuals and families earning up to 60% of the area median income. This funding was created by the passage of Proposition 442 by Flagstaff voters in 2022, which authorized the use of general obligation bonds for the creation of rental and ownership opportunities for residents of Flagstaff.