Dominium to Build Tucson-Area Affordable Housing
The project marks the developer's debut in this market.
Dominium is getting ready to break ground on The Safford, a 200-unit affordable housing community in Marana, Ariz., near Tucson. The project’s construction is supported by the Section 42 LIHTC program.
The Safford marks Marana’s first new affordable community development in the last 20 years. The project is also Dominium’s first development in Greater Tucson.
Dominium currently owns and manages more than 38,000 affordable units throughout some 230 properties across the U.S. The developer entered Arizona only recently, having opened its first community in the state last month, but it’s rapidly expanding its local presence. Just two weeks ago, the firm announced plans for two sister communities in the Phoenix area, totaling 657 units.
Dominium’s first development in Greater Tucson
The community will take shape at 8740 N. Silverbell Road, on a 18.6-acre parcel Dominium acquired in May. With a development team including WD Construction, RICK Engineering, Paradigm Designs and Todd & Associates, the project is slated for completion in the fall of 2025.
Project financing includes, according to Yardi Matrix data:
- $49 million in Arizona Industrial Development Authority bonds syndicated through U.S. Bank
- $34.6 million in construction financing from Cedar Rapids Bank and Trust Co.
- $3 million construction loan from Bridgewater Bank
- $3 million construction loan from the Arizona Department of Housing.
In addition, WNC provided 4 percent LIHTC equity. Greystone Housing Impact Investors, Colliers Securities and Langston Hughes Affordable Housing also partnered with Dominium for this endeavor.
Upon completion, The Safford will comprise two-, three- and four-bedroom floorplans featuring in-unit washers and dryers. The community will be off Interstate 10, roughly 13 miles from downtown Tucson. It will also be some 8 miles from the Marana Regional Airport and 22 miles from the Tucson International Airport.