2 big land deals bring housing projects to Maricopa

Article originally posted on AZ Big Media on November 15, 2024

Land Advisors Organization announced that its Homebuilding Team recently facilitated the sale of two adjacent land parcels in the City of Maricopa, Arizona. The transactions are slated to bring 431 new multifamily housing units to Maricopa, one of the nation’s fastest-growing cities.

The parcels are located at the NWC of Porter Road and the Maricopa-Casa Grande Highway in Maricopa, Arizona. Dominium Acquisition LLC completed the purchase of more than 19 acres for $8.26 million and plans to develop a 215-unit multifamily community on the site. The adjacent 9.5-acre parcel was purchased by Roers Companies for $4.166 million, where it plans to build a new 216-unit horizontal apartment community.

The new communities will be located along the frontage of the Maricopa-Casa Grande Highway, where the city’s new Home Depot location opened in September and additional retail is planned. Land Advisors Organization’s Ryan Semro, Bret Rinehart, Ben Heglie, and Ryan Garlick represented the seller, Stonegate BFC LLC, in these two transactions.

“The City of Maricopa was recently recognized as the fifth-fastest growing city in the U.S., and new residential options are greatly needed in the area,” Rinehart said. “These land acquisitions by Dominium and Roers will provide more affordable new residential options while also complementing the area’s burgeoning retail developments.”