Opus plans to build multifamily development in P83

Real Estate | 21 Feb |

The Opus Group announced today plans to construct a new 352-unit multifamily development in the heart of the Peoria Sports Complex Urban Design District, often referred to as P83. Opus will break ground on the 10-building development in March and the first units are scheduled for completion in June 2020 with full completion in December 2020.

“We’re excited to be part of the Peoria community and look forward to bringing this vibrant pedestrian-friendly development to the West Valley submarket,” said Dustin Slack, vice president, real estate development at Opus. “This multi-building project is the first of its kind for Opus and continues our expansion of multifamily offerings outside of our core Midwest market. As we continue expanding our development capabilities and product types, we hope to work on similar projects.”

Located on approximately 17 acres at the corner of 75th Avenue and Paradise Lane, the 330,000-square-foot development will consist of a mix of three and four-story buildings. Units will range from studios to one, two and three-bedroom units from approximately 650 to 1,370 square feet.

The development will also include an estimated 6,000-square-foot centralized clubhouse with top-of-the-line amenities including a resort-style pool. The building will have outdoor amenity spaces such as a large dog park, outdoor kitchen, hammock garden and multiple picnic areas. The clubhouse includes a 2,000-square-foot fitness center and flexible workout space. Residents will have convenient access to the Valley trail system and will be within walking distance to many attractions in the P83 district and many Peoria retail and entertainment amenities that surround the nearby Arrowhead Town Center.

Opus is the developer, and MT Builders is the general contractor. Dekker / Perich / Sabatini is the architect of record. The project is a joint venture with Principal Real Estate Investors.

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