Dominium Planning 304-Unit BTR Project in Surprise

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.