A section of Buckeye’s Monte Verde master-planned community, initially approved in 2005, may soon be developed into 280 workforce apartments aimed at serving essential workers, young professionals and retirees, according to a pre-application narrative filed with the city.
The proposed project, titled Monte Verde Parcel 1.11(a), is being led by Wolff Enterprises III, LLC, a third-generation Valley-based company with a background in multifamily housing. On June 26, the company submitted a request for a Pre-Application Conference (PAC) meeting to discuss its workforce rental housing concept.
Wolff plans to use the federal Low-Income Housing Tax Credit (LIHTC) program to offer units to residents earning up to 60% of the area median income. The narrative outlines goals to expand housing availability in Buckeye, reduce crime in vacant areas, improve infrastructure and contribute to local economic stability.
[City of Buckeye]
Located at the southwest corner of Lower Buckeye Road and Watson Road, the approximately 32-acre site is part of the Monte Verde Community Master Plan. The master plan was annexed into Buckeye in 2004 and formally approved in 2005.
The master plan allows for up to 2,575 total residential units across multiple parcels, including a mix of single-family homes, apartments and mixed-use areas.
Parcel 1.11(a) is slated to include up to 280 rental units of high-quality, low-income and workforce housing. The development is designed to serve essential workers in Buckeye, including law enforcement officers, nurses, teachers, public employees and social workers, according to the application.
Wolff plans to apply for both tax credits and tax-exempt bonds to finance the project.
The apartments would consist of three-story garden-style buildings with a mix of one- and two-bedroom floor plans. A central leasing and fitness facility is planned, along with outdoor amenities such as a resort-style pool, dog park, playgrounds and pedestrian pathways, according to the application.
Katie Reiner of Wolff Enterprises is listed as the applicant. Legal representation is provided by Snell & Wilmer LLP. The land is owned by Walton International Group (USA), Inc., based in Scottsdale.
The application represents an early step in the city’s development review process. No final decisions have been made.
One Response
Stop building!! The schools are too full and no word of new schools being built. Water should be a concern as well.