Dominium Acquires Land for Allasso Ranch, Plans to Develop 304 Affordable Homes in Surprise, Arizona

New development will bring high-quality, affordable housing to the Phoenix Metro

Dominium, a leading affordable housing owner, developer and manager, announced today that it has closed on the acquisition of land for the development of a new affordable housing community in Surprise, Arizona.

Once completed, Anson Crossing will provide 312 high-quality, affordable homes designed to serve hardworking individuals and families. Residents will enjoy access to modern amenities, including a clubhouse, fitness center, business center, pool with outdoor amenity space and free tutoring service tailored to resident needs. Each home will feature in-unit washers and dryers, granite countertops, luxury vinyl plank flooring and stainless-steel appliance packages.

The development is made possible through the Section 42 Low-Income Housing Tax Credit (LIHTC) program. Nationwide, LIHTC 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 (AMI). Construction of LIHTC properties has a positive effect on the local housing market by increasing the supply of affordable housing.

Dominium would like to thank its development partners, including Caldwell County, Winthrop & Weinstine, BKV Group, Kimley-Horn and Associates Inc., Braun Intertec Corporation, Commercial Partners Title, On Track Ministries and UMB Bank.

Located at the southwest corner of Happy Valley Road and 147th Avenue, the site will be home to Allasso Ranch, a community designed to serve low-income families in the greater Phoenix metro area. Constructed by WD Construction, the development will include 304 affordable units.

Once completed, Allasso Ranch will feature a leasing center, playgrounds, private backyards, a community pool and additional outdoor amenities.

Construction will be supported by the Section 42 Low-Income Housing Tax Credit (LIHTC) program, the nation’s largest source of funding for affordable housing development. In exchange for tax credits, developers agree to maintain rents at levels tied to the Area Median Income (AMI). LIHTC-supported developments like Allasso Ranch help to increase the supply of affordable housing and positively impact local housing markets.

Dominium would like to thank its development partners including Western Alliance Bank, Old National Bank (formerly Bremer Bank), Freddie Mac, PNC Bank, Colliers Securities, Arizona Department of Housing, Arizona Industrial Development Authority, Polaris Capital, Winthrop & Weinstine, Langston Hughes, Todd & Associates, Atwell Engineering, TLS Land Services, Commercial Partners Title, Kutak Rock and U.S. Bank.