Today, Maricopa County officials celebrated the opening of La Esperanza Terrace, a new 96-unit affordable housing development in West Phoenix. The project stands on a former preschool site and aims to provide cost-effective housing solutions to local residents.
Supervisor Steve Gallardo from the Maricopa Board of Supervisors emphasized the necessity of the development, citing increased housing costs and a spike in eviction cases in 2024. “With rising housing costs and a record-breaking number of eviction cases filed in 2024, it is clear that Maricopa County families are in dire need of more affordable rental options that don’t break the bank,” Gallardo noted. He added that the project transforms a once unused area into a lively community space where residents have access to services, work opportunities, and support.
The development was initiated through the School District Surplus Land Initiative, becoming the first project to leverage this financing option. Developed by UMOM New Day Centers, the project received a $6 million investment from Maricopa County under the federal American Rescue Plan Act. The $36 million endeavor also involved other key partners such as the Arizona Department of Housing, the City of Phoenix, Redstone, and Raymond James LP Equity.
La Esperanza Terrace, located at the intersection of 31st Avenue and McDowell Road, offers 96 rental units ranging from one to three bedrooms. The homes cater to those earning up to 60% of the area median income and include modern amenities such as air conditioning, kitchen appliances, and in-unit laundry. The community also features a variety of shared spaces including a BBQ area, community room, fitness center, and more.
This project aligns with Maricopa County’s commitment to affordable housing, contributing to its investment of over $128 million in similar programs through ARPA funding.
Learn more about their initiatives at Maricopa.gov/Housing.
