Multi-Family Archives

Concentrated Culture: The symbiosis of new-build and adaptive reuse

Portland on the Park, Courtesy of DAVIS

There are undeniable truths in commercial real estate. For instance — retail follows rooftops. However, when the right variables come together, the presence of retail can create a demand for mixed-use communities. This is a phenomenon Michelle Schwartz, associate at RSP Architects, has observed in her firm’s recent work. “Arizona has such a short history… Read More →

Autistic adults move into First Place™ beta site

First Place, RSP Architects

Adults with autism have moved into the beta site for the First Place Transition Academy, one of three components of the future First Place mixed-use residential property in Phoenix.  The Academy is teaching independent living, career development and social skills for a population that experiences a “services cliff” after high school, according to a new… Read More →

Big Deals: Multi-Family/Sales, May 2015-June 2015

Trillium Cave Creek 2

There’s no such thing as a “small” deal in this industry, coming out of a recession. However, it’s the big deals, and the brokers who make them, that make the market an interesting one to watch. In every issue, AZRE publishes the top five notable sales and leases that have occurred one month out from… Read More →

Almeria at Ocotillo celebrates grand opening

Almeria

The P.B. Bell Companies, a leader in multifamily housing and real estate development and management, is celebrating the official grand opening of Almeria at Ocotillo, a luxury community in Chandler, Ariz. Grand opening festivities mark the completion of the community’s second and final phase, an accompaniment to Almeria’s first phase, which opened last spring. Located… Read More →

HSL acquires 44 Monroe in downtown Phoenix

Multi-Family Market - AZRE Magazine July/August 2011

HSL 44 Monroe, LLC, purchased a $50.65 million controlling interest in 44 Monroe, Arizona’s tallest luxury residential tower. Located at 44 Monroe on the northeast corner of 1st Avenue and E. Monroe Street, the property is located in the heart of the downtown Phoenix financial district. HSL purchased 184 condominium units in the 198-unit tower.… Read More →

La Cresenta Apartments wins Best of Tempe award

Global real estate investment and services firm Kennedy Wilson announced that La Cresenta Apartments, a 197-unit property managed by Kennedy Wilson for more than 10 years, has been awarded the 2015 Best of Tempe Award in the Apartment Buildings category for the second year in a row. Located at 1025 E. Orange St. in the… Read More →

Las Plazas at Old Vail breaks ground in Tucson

Site-Plan-for-PR, cbre, web

A 17-acre parcel of land at the northwest corner of Houghton and Old Vail Roads in southeastern Tucson is slated to become a new retail and restaurant hub. The development’s site work has begun at Las Plazas at Old Vail, as the project has been dubbed, in the form of under-ground utilities, grading, retention/detention, common… Read More →

Velaire at Aspera breaks ground in Glendale

Aspera, Courtesy of Todd & Associates, Inc.

The P.B. Bell Companies has begun construction on Velaire at Aspera, an apartment community within the Aspera mixed-use development in Glendale. Located at 75th Avenue and the Agua Fria Loop 101 Freeway, Velaire at Aspera will offer 286 luxury apartment homes in a resort-like setting, with amenities that include an electric-car charging station, an agility… Read More →

New to Market: January, February 2015

The Enclave at Borgata Developer: Antera Development General contractor: Wespac Architect: Davis Location: 6166 N. Scottsdale Rd., Scottsdale, Ariz. Size: 90 units; 4.77 acres Start/Completion: 2Q 2015 to 4Q 2016 The Enclave at Borgata includes 90 luxury condominium residences, featuring soft contemporary design and resort-like amenities, all within walking distance to many convenient amenities. Floor… Read More →

Smithfield Properties opens @51 in Phoenix

Central Phoenix just got a new addition to its housing life with the opening of the new, ultra-hip @51 apartment community, a project brought to the Valley by Smithfield Properties, Chicago-based developer of high-end residences and adaptive reuse projects. Designed by San Francisco-based Berkelhamer Architects, @51 is a contemporary residence set between the Biltmore area and midtown Phoenix.… Read More →

Apartment community in Phoenix sells for $525,000

Cooper, Cardinal and Company LLC, a boutique multi-family investment brokerage firm with headquarters in Phoenix, Arizona, represented the Seller in the sale of McLellan Apartments, an 8-unit turn-key multi-family community located in Phoenix, Arizona. The sale price of $525,000 equates to $65,625 per unit or $93.21 per square foot. Jack A. Cardinal, a Managing Director… Read More →

Wood Partners now leasing at Alta Scottsdale

Wood Partners - Alta Scottsdale Clubhouse
March 11, 2015 by in AZRE Magazine | Featured | Multi-Family

Wood Partners, LLC announced today the official opening of Alta Scottsdale, a $38 million luxury apartment complex with 218 units located one mile from downtown Scottsdale. The property is already 25 percent full after two months of pre-leasing. “The apartment homes at Alta Scottsdale, with avant-garde features within practical, comfortable spaces, have proven to be… Read More →

NexMetro will build leased-home neighborhood in Chandler

lease

Phoenix-headquartered NexMetro Communities, America’s builder of next-generation leased–home neighborhoods, announces the purchase of 15 acres at the northeast corner of Warner Road and Grace Boulevard, just west of Arizona Avenue, in Chandler, Arizona, where it plans to develop 194 homes. The development will feature one, two, and three bedroom floorplans and continues the developer’s charter… Read More →

Watt-AZ kicks off $25M urban infill projects

Officials from Watt Communities of Arizona and Southern California-based parent company, Watt Communities, celebrated the groundbreaking of a 51-unit, for-sale upscale urban living townhome project in central Tempe, Arizona.   Dorsey Lane is the first of five infill urban living communities, with a construction value of more than $25 million, scheduled to break ground by Watt in metro Phoenix this… Read More →