Developer plans 2 affordable housing communities in West Valley
Aug 12, 2023, 7:15 AM
PHOENIX — A housing company announced Friday it closed a deal to develop 657 affordable apartment homes in Goodyear.
Dominium partnered with WD construction, which will build the residences on a 28-acre site at 16985 W Van Buren Street.
There are two housing projects in the works: Estrella Springs and Suncrest Vista at Canyon Trails. The two projects will create a total of 396 family and 261 age-restricted apartments.
“In cooperation with members of the local Goodyear Community, Dominium has incorporated numerous features that will benefit the community for many years to come,” Dominium said in a Friday statement.
The housing projects will involve landscaping designed to limit water usage and artistic features designed by local high school students.
Some of the funding that will help construct the two housing projects will come from the Section 42 Low-Income Housing Tax Credit program, or LIHTC for short, Dominium said.
Affordable housing developers who accept LIHTC tax credits agree to maintain affordable rents. That’s determined by the Area Medium Income.
“Construction of LIHTC properties has a positive effect on the local housing market through the simple fact of increasing the supply of affordable housing,” Dominium said.