Arizona developer buys Plant City land, plans 360 workforce apartments

Alliance Residential Co., an Arizona multifamily developer, has bought land in Plant City and plans to build a 360-unit apartment complex under its workforce housing brand.

Scottsdale-based Alliance bought the 15 acres at 3110 James L. Redman Parkway just south of Interstate 4 but did not disclose the sale price. Hillsborough County records, however, show it paid $6 million.

The previous owners, three individuals, paid $300,100 for the property in 2004.

Alliance's plan calls for it to build a community named Prose Carmina on the site. It will include one- and two-bedroom apartments ranging from 746 square feet to 1,078 square feet. Units will come with stainless steel appliance and vinyl plank flooring and amenities will include a catering kitchen and coworking space.

The company did not say what rents would be, but the Prose brand is Alliance’s workforce housing brand. According to its website, Prose is a “cost-efficient product constructed to a lower price point, targeting rents up to 20% lower than comparable apartments.”

“This important segment starts to address a growing affordability gap and a shortage of affordable housing,” Alliance says.

Earlier this year, Alliance’s president and chief operating officer Jay Hiemenz told the industry publication Multifamily Executive that 65% of its pipeline is made up of Prose branded properties.

The company, according to the story, has over 19,600 units across 60 Prose communities with another 24 developments in its pipeline.

“That’s how big of a commitment we have made with it,” Hiemenz told the publication.

(A spokesperson for Alliance did not respond to several questions Wednesday about the project and the company.)

Alliance was founded in 2000 and has offices in 19 states, including one each in Orlando and one in Boca Raton.

According to its website, it has built or bought more than 115,000 units, investing $23 billion. In addition to Prose, it also builds and buys senior living and higher-end communities as well as industrial properties.

In Florida, it has at least seven Prose properties including one in Tampa and one in Lakeland.

Prose Carmina is expected to open to residents in 2026.