In the market for an “affordable” townhome in a walkable neighborhood with panoramic views of The Home Depot?

Plymouth, Minn.-based Dominium Apartments has closed a land sale with the City of Maricopa to construct its proposed build-to-rent community, the national developer’s first, on the city’s south side.

The Scottsdale brokerage firm Land Advisors Organization had announced it facilitated the 19-acre sale last month for $8.26 million, stating the project would “provide more affordable new residential options while also complementing the area’s burgeoning retail developments.”

Land Advisors Organization’s Bret Rinehart represented the seller, Stonegate BFC LLC.

“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 in a news release.

The land acquisitions by Dominium “will provide more affordable new residential options while also complementing the area’s burgeoning retail developments,” he said.

InMaricopa has contacted sources at the city for further comment.

Now dubbed Saddleback Village at Stonegate, the rental housing development at 18260 N. Alan Stephens Parkway seeks to create a “pedestrian-friendly development environment” with walkways and access to existing and future bike paths. The neighborhood would also provide easy access for residents to use multi-use trails planned around the city.

Construction on the development has yet to begin.

This announcement comes nine months after the developer’s Scottsdale office submitted pre-application paperwork to jumpstart the construction process.

The development plans to construct 215 townhome-style rentals ranging in size from 960 to 1,360 square feet. Each unit would have luxury vinyl plank and carpet floors, nine-foot ceilings, in-unit washers and dryers, stone countertops and private backyards.