By Roland Murphy for AZBEX
Affordable housing developer Dominium has successfully closed on a roughly 26-acre site for Allasso Ranch, a planned 304-unit Build-to-Rent community south of Happy Valley Road and 147th Avenue in Surprise.
The site is zoned R-3 multifamily, which is the correct type for this development, according to the site plan. The maximum allowed density is 11.9 units/acre. Allasso Ranch will come in at 11.88 if built as planned.
The planned unit mix calls for 152 three- and 152 four-bedroom units. Both unit counts are planned with eight units in single-story and 144 units in two-story buildings.
Planned amenities include a leasing office, private backyards, playground spaces, a pool and other outdoor areas.
Announcing the acquisition on LinkedIn, Dominium said, “This development would not have been possible without the support of our valued partners. The project’s financing structure includes a tax-exempt construction loan provided by Western Alliance Bank, a taxable bridge loan from Old National Bank(formerly Bremer Bank), a Forward TEL commitment from Freddie Mac serviced by PNC, tax-exempt subordinate bonds originated by Colliers Securities, State Housing Trust Funds from the Arizona Department of Housing and an equity investment in 4% federal Low-Income Housing Tax Credits by Polaris Capital Investments Allasso Ranch, LLC.
“We extend our gratitude to the Arizona Department of Housing for their allocation of Low-Income Housing Tax Credits, and to the Arizona Industrial Development Authority – Arizona IDA for their issuance of tax-exempt private activity bonds.”
According to submitted documents, Todd & Associates Architecture is the design firm and landscape planner. The civil engineer is Atwell, Inc., with mechanical/plumbing by NP Mechanical. Structural engineering is through Ennovative, LLC. The mechanical engineer is Hawkins Design Group. Interior design is by BKV Group, and fire protection is from Pyro Tech Design, LLC. The general contractor is WD Construction.
Returning to Surprise
This is not the company’s first foray into affordable housing in Surprise. Dominium is the company behind the Truman Ranch Marketplace master plan, which includes Orchard Springs Senior Living and Arterra Family Apartments.
Although the developments are now under construction, the plan generated some of the Valley’s most heated NIMBY activity in recent years. An exceptionally aggressive citizen opposition group was formed to try to stop the project, and various referendum and recall petitions, lawsuits and other legal claims arose from the attempt.
Courts ultimately sided with Dominium and the City of Surprise in allowing the projects to move forward, but the aftereffects of the conflict are still felt around the area, with several other development opposition groups adopting similar tactics in their attempts to halt large multifamily project proposals.
