PHOENIX — La Esperanza Terrace, a new affordable housing community, held a grand opening ceremony on Tuesday morning.
The community is built on former Isaac School District land near 31st Avenue and McDowell Road in Phoenix.
The complex broke ground in 2023 and was brought to life as part of a unique partnership between UMOM New Day Centers, the City of Phoenix, Maricopa County and other partnerships.
Leaders with the district and City of Phoenix say this is a first-of-its-kind partnership to buy land from a school district and use it to create affordable housing. More deals like this are now underway.
The project contains nearly 100 housing units, including 1-, 2-, and 3-bedroom options for families earning 60% of the area median income or less.
Leasing has already begun for the new complex.
Learn more about the new community in the video player above.
