**Dominium to Develop 304-Unit Build-to-Rent Community in Surprise, Arizona**
Dominium has acquired a 26-acre parcel located at the intersection of Happy Valley Road and 147th Avenue in Surprise, Arizona. The company plans to develop a 304-unit Build-to-Rent (BTR) community named Allasso Ranch on the site.
The residential community will feature a mix of 152 three-bedroom and 152 four-bedroom units. Of these, eight units in each bedroom category will be housed in single-story buildings, while the remaining 144 units for each bedroom type will be in two-story buildings.
Allasso Ranch is set to offer a range of amenities for residents, including private backyards, playgrounds, a swimming pool, and other outdoor recreational areas.
The project’s financing involves a diverse mix of funding sources. This includes a tax-exempt construction loan from 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 issued by Colliers Securities, and State Housing Trust Funds from the Arizona Department of Housing. Additionally, an equity investment in 4% federal Low-Income Housing Tax Credits is being provided by Polaris Capital Investments Allasso Ranch, LLC.
Todd & Associates Architecture is serving as both the design architect and landscape planner, while WD Construction is the project’s general contractor.
