Affordable housing boost: La Esperanza Terrace opens in Phoenix
Maricopa County’s newest affordable housing project resulted in La Esperanza Terrace, a 96-unit complex developed on the grounds of a former preschool.
In a significant step toward addressing the affordable housing crisis, a new 96-unit residential development has opened its doors in West Phoenix. La Esperanza Terrace marks a pioneering collaboration between Maricopa County and the Isaac School District, transforming a former preschool site into much-needed affordable housing for local families.
New affordable housing development brings hope to West Phoenix
The $36 million project, located at 31st Avenue and McDowell Road, represents an innovative approach to tackling the region’s housing challenges.
Supervisor Steve Gallardo of the Maricopa Board of Supervisors, District 5, emphasized the urgent need for such developments, stating, “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.”
Modern amenities and community-focused design
La Esperanza Terrace offers one-to-three-bedroom units ranging from 658 to 1,242 square feet, specifically designed for individuals and families earning at or below 60% of the area’s median income. Each unit comes equipped with modern appliances, including:
- In-unit washer and dryer
- Range and refrigerator
- Dishwasher and microwave
- Air conditioning
- Window coverings
The development features numerous community amenities, including:
- Community room and computer lab
- Fitness center
- BBQ and picnic areas
- Community garden
- Playground
- Secured parking with carport spaces
- Security camera system
Collaborative funding and development
This groundbreaking project was made possible through multiple partnerships and funding sources:
- Maricopa County contributed $6 million in federal American Rescue Plan Act (ARPA) funding
- Development led by non-profit UMOM New Day Centers
- Additional support from Arizona Department of Housing, City of Phoenix, Redstone, and Raymond James LP Equity
The development represents part of Maricopa County’s broader commitment to affordable housing, with over $128 million in ARPA funding invested in various housing programs and projects. For more information about affordable housing initiatives in Maricopa County, visit Maricopa.gov/Housing.
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