On April 9, 2025, the Phoenix City Council adopted Ordinance S-51815, authorizing a development agreement with NRP Holdings, LLC for a 288-unit mixed-income residential development on a 10.06-acre site at the southwest corner of 69th Avenue and Thomas Road. The $59 million capital investment will feature amenities including a resident clubhouse, dog park, and pool, and is expected to create approximately 381 construction jobs. Under a 25-year GPLET lease agreement, the City will acquire and lease the land back to the developer. The project is not eligible for tax abatement, and NRP will provide minimum tax payments as determined by a third-party impact study. Annual rent begins at $5,000 and escalates to $20,000, totaling $287,500. Ownership reverts to the developer after lease expiration.
This project brings significant private investment and affordable rental housing to Maryvale, a historically underserved neighborhood. It supports job creation, neighborhood revitalization, and contributes to the city’s long-term housing goals.