La Esperanza Terrace Build Update

UMOM’s newest affordable housing community build, La Esperanza Terrace, is almost ready to break ground.

Our latest project is unique in that it is being built on land previously owned by the Isaac School District. While the transactions required to make the land available for residential use were complicated, the benefits are simple: income that can support the Issac School District and more affordable housing for families in Maricopa County.

La Esperanza Terrace is expected to begin leasing in early 2025.

Located on the southwest corner of McDowell & 31st Ave in Phoenix, it will include 96 rental units serving families earning at or below 60% of area median income.

“We worked hard to create a process that would allow for the district land to be purchased and the old, vacant school buildings to be removed so a new, energy-efficient affordable housing project can be built,” said Juan Salgado, CEO of the Phoenix IDA. “There is great public need for more affordable housing in Phoenix, and this is an excellent example of reuse of the site.”

Learn more about UMOM’s commitment to increasing the available inventory of affordable housing in our community, and learn more about the communities we’ve built at umom.org/affordable-housing.