Los Angeles developer opens $175M apartment community, with more on the way

Article originally posted on Phoenix Business Journal on February 27, 2026

Los Angeles-based Shelter Asset Management LLC has opened the first two of six buildings at its $175 million apartment project in the city of Maricopa, with another one in development in Phoenix.

Called Home at Maricopa, the project will total 531 units at 17645 N. Porter Road when fully completed during the second quarter of 2028, said Stu Hansen, president and CEO of Shelter Asset Management.

The project is being delivered in five phases. The first phase, which includes two buildings each with 49 units, is in lease-up and currently is 23% occupied, he said.

SAM Development Group LLC, a division of Drewlo Holdings of Canada, is serving as general contractor and architect for the project.

“By bringing construction in-house, SAM is able to control costs, create operational efficiencies and leverage material purchasing power and supply chain relationships,” Hansen said.

Shelter Asset Management develops, owns and manages Home at Maricopa under its management company, Skyline Residential.

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