Dominium, a leading national affordable housing owner, developer and manager, recently closed on deals to acquire land for three new housing projects, providing more than 800 units in Surprise and Maricopa.
In Surprise, Arterra will offer 388 affordable apartments for families and will include a clubhouse, fitness center, pool, and a playground. Orchard Springs, also in Surprise, will offer 211 apartment homes for seniors and feature a clubhouse, pool, fitness center, theater, and salon rooms. To live in Arterra and Orchard Springs, residents must earn 60% or less of median income level. Both projects, located along the Loop 303’s exponential growth, will be constructed by W.D. Construction of Phoenix. Todd & Associates of Phoenix is the architect along with Dominium Construction and Architectural Services.
Dominium is developing its first Build-to-Rent (BTR) community in Maricopa. Saddleback Village at Stonegate will offer 215 high-quality homes, each with three and four bedrooms in the fast-growing area. The community will feature a playground, private backyards and outdoor amenity spaces. To live at Saddleback Village at Stonegate, residents must earn 60% or less of the median income level. Lifestyle Homes of Scottsdale will construct the project. Todd & Associates of Phoenix is the architect.
The construction of all three projects will be supported by the federal Low-Income Housing Tax Credits.
“Dominium will never stop fighting to solve Arizona’s ongoing housing crisis that is resulting in rents that are out of reach for our essential workforce and seniors on fixed incomes,” said Owen Metz, Dominium’s Senior Vice President and Mountain West Development Leader. “The only way to solve the issue is to build new housing for all incomes. Arizona’s housing shortage is a challenge in each community in the Valley.”
Dominium is a 50-year-old developer of affordable housing that manages more than 40,000 apartments in 19 states and owns more than $7 billion in properties. Dominium has a national reputation of developing high-quality properties that they own for the long-term. Over the next few years, Dominium is planning to build 35 projects, encompassing 1,500 units of new affordable housing in Arizona.
