Real estate investment firm Caliber – The Wealth Development Company along with its vertically integrated subsidiaries Caliber Development and Caliber Realty and Property Management, today announced pre-leasing is underway for GC Square Apartments, a completely renovated off-campus apartment community designed for students near Grand Canyon University (GCU) in Phoenix, Arizona. GC Square marks Caliber’s entrée into the student living/housing commercial sector. Phase 1, or 80-units, of the multi-phase project is scheduled for completion in January 2018. Studio and one-bedroom models are available to view.
The 164-unit apartment project is a mix of studio, one-bedroom and three-bedroom apartments. Located one block from GCU at 3535 W. Camelback Road, GC Square is a gated community with a diverse range of outdoor and indoor amenities. Community amenities include an expansive clubhouse with large screen HDTVs and pool table, workout room, a clothing care center, business center, resort-style pool and spa, pet-friendly washing stations, BBQ gas grills, outdoor fire pit, movie theater as well as property access control, video surveillance and alarm system.
The modern interior designed apartment homes are fully furnished and feature new kitchens with Energy Star appliances, quartz countertops, hardwood-style plank flooring, energy efficient windows and trendy fixtures/furnishings. Units are pet-friendly with all utilities along with high-speed Internet access and cable television included. Pricing starts at $995 a month furnished.
According to Caliber Executive Vice President, Roy Bade, “GC Square Apartments will help satisfy the demand for a modern, trendy and safe community where students can study, socialize and relax within moments from campus.” He added, “It’s truly incredible what GCU has achieved – the growth and quality of students. We are proud to play a small role in the surrounding neighborhood revitalization efforts.”
Since acquiring the circa 1972 multi-family property in December of 2015, Caliber’s repositioning of this aging asset into a first-rate community is a project in cooperation with the design team at 3rd Story Architecture. Property transformation required extensive exterior and complete interior building redevelopment. Availability for the remaining 84-units is slated for end of March 2018.
GC Square is partially owned by the Caliber Diversified Opportunity Fund II, LP, a fund that offers accredited investors the opportunity to invest in “middle market” U.S. commercial real estate assets to build wealth through a combination of current income and capital appreciation. Other multi-family projects currently participating in the Fund include The Eclipse (Scottsdale, AZ) and The Roosevelt (Tempe, AZ) Zero Energy Ready communities. Interested investors can contact Caliber at 480-295-7600 or Invest@caliberco.com.
