Dominium, a leading affordable housing owner, developer and manager, recently closed a deal to acquire land for the development of a new affordable housing community in Maricopa, Arizona.
Dominium plans to use the land located at 18260 N. Alan Stephens Pkwy. to construct Saddleback Village at Stonegate, Dominium’s first Built-to-Rent community. Completed, it will bring 215 high-quality homes to the City of Maricopa and the greater Phoenix metropolitan area. Constructed by Lifestyle Homes, the community will offer residents desirable amenities that include a leasing center, playground, private backyards and outdoor amenity spaces.
Construction of Saddleback Village at Stonegate will be supported by the Section 42 Low-Income Housing Tax Credit program.
Did You Know: Nationwide, the Section 42 Low-Income Housing Tax Credit program is the largest source of support for the construction and maintenance of affordable housing communities. In exchange for tax credits, affordable housing developers and operators agree to maintain rents at levels tied to the Area Median Income.
