UMOM, city and partners open La Esperanza Terrace, 96 affordable rental units in Phoenix

UMOM New Day Centers held a grand-opening ceremony in Phoenix to open La Esperanza Terrace, a new 96-unit affordable rental development for families.

Jackson, founder and CEO of UMOM New Day Centers, opened the ceremony and said La Esperanza represents “hope for families” and a place where “families can live safely and work steadily.”

The ceremony highlighted the project’s public–private financing and intergovernmental partnerships. Mayor Kate Gallego said the development was financed with assistance from “the City of Phoenix, Maricopa County, and the state of Arizona” and noted the project supports the city’s housing goals. “We were able to partner thanks to a model developed by Vitalist and implemented with our industrial development authority,” Gallego said.

Patricia Jimenez, president of the Isaac School District Governing Board, said the Terrace will provide “96 affordable rentals — units for families earning or below 60% of the area medium income,” keeping families close to neighborhood schools. Jimenez and other district leaders described the project as a reuse of school-owned property that had previously housed preschool facilities.

Juan Salgado, CEO of the Phoenix Industrial Development Authority, described the financing approach as an “innovative financing structure” that converts surplus school land into affordable housing. Salgado also pointed to complementary homeownership efforts, saying the IDA’s Home in 5 program has assisted “over 25,000 families” in acquiring homes.

Maricopa County Supervisor Steve Gallardo said the county contributed funds to the project and stated that “$6,000,000 of ARPA dollars” supported the development. Ruby Dillon Williams, interim director of the Arizona Department of Housing, credited the governor’s investment in the state housing trust fund and described the layered capital stack needed for contemporary affordable housing projects.

City housing officials said UMOM has a long-standing partnership with the city. Titus Matthew, director of the City of Phoenix Housing Department, said UMOM has partnered with the city since 1994 and that the organization’s developments are designed with resident input. Developers and financiers at the event confirmed private financing roles: Cody Langness of Redstone said his firm provided construction and permanent financing, and Dan Wendell of Raymond James said American Express is the tax-credit investor for the project.

Speakers also noted this project is intended as a replicable model: Salgado and others said the Phoenix IDA is pursuing similar conversions with other districts and that additional developments are in the pipeline (the IDA cited dozens of units financed in recent years and more planned for upcoming years).

The ceremony concluded with a ribbon cutting and property tours for invited guests and media.