On June 18, 2025, the Phoenix City Council approved an amendment to Ordinance S-50808, authorizing the City Manager to modify the entity entering into an Affordable Housing Loan Program Agreement. The amendment transfers the agreement from BNB Development, LLC to Wild Rose Owner LLC, an affiliate of Ulysses Development Group, for the Wild Rose Flats affordable housing project. The project, previously known as Kazan Apartments, will consist of 72 permanent multifamily housing units located at 2911 and 2941 N. 43rd Avenue. All units will serve individuals with incomes at or below 60 percent of the Area Median Income (AMI), with at least 11 units serving households at or below 40 percent of the AMI. The original loan agreement, approved on May 1, 2024, provided up to $1 million in federal HOME Investment Partnerships Program funds. BNB Development, LLC withdrew after not receiving a Low Income Housing Tax Credit (LIHTC) award. The estimated total development budget for Wild Rose Flats is $30,941,125, with additional funding from LIHTC equity, HOME-ARP, permanent debt financing, and a deferred developer fee. The transfer ensures the continuation of the federally funded project under a new, city-approved nominee.