Dominium acquired a 26-acre parcel in Surprise to build a 304-unit Build-to-Rent community called Allasso Ranch. The project will be at Happy Valley Road and 147th Avenue.
AZBEX reports the planned unit mix calls for 152 three- and 152 four-bedroom units. Both unit counts are planned with eight units in single-story buildings and 144 in two-story buildings.
Planned amenities include private backyards, playground spaces, a pool and other outdoor areas.
The project’s financing structure includes a tax-exempt construction loan provided by Western Alliance Bank, a taxable bridge loan from Old National 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.
Todd & Associates Architecture is the design firm and landscape planner. The general contractor is WD Construction.
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