Strouse Davis Architecture is designing the project in partnership with Katerra, while $32.4 in construction financing was provided by BMO Harris Bank. is developing Aiya, a 366-unit, 16-building community scheduled for completion in June 2021. The multifamily market is hot in Gilbert, Ariz., where more than 2,700 units were under construction as of July. Rendering courtesy of Strouse Davis Architecture
BBVA USA funded the construction with a $57.4 million loan.
AIYA GILBERT FULL
At full build-out, it will feature two midcentury modern-style apartment buildings of three and four stories each, as well as a single-story parking garage. The 358-unit community broke ground in March 2020 and is expected to come online at the end of 2021. The McDowell is a JLB Partners project being built on the site of a former car dealership in Scottsdale, Ariz. in Peoria, Ariz., close to Midwestern University and the P83 entertainment district. UMB Bank provided $39 million in construction financing. Upon completion, scheduled for the second quarter of 2021, it will encompass 352 units sized between 640 and 1,445 square feet. Construction on the 10-building asset broke ground in September 2019. The Opus Group’s Paradise at P83 is another community taking shape in suburban Phoenix. Fillmore St., the community is 15 minutes from Luke Air Force Base. Pacific Coast Capital Partners provided construction financing totaling $34.1 million. Completion is scheduled for the last quarter of 2020. The largest one is Acero Estrella Commons, a 15-building property in Goodyear, Ariz., encompassing 352 units ranging in size between 772 and 1,385 square feet.
is developing two communities in the Phoenix metro. Acero Estrella Commons & Paradise at P83 Acero Estrella Commons. Here’s a breakdown of the largest communities under construction in the metro as of July. Meanwhile, 6,855 units are expected to come online by year-end. Some 3,700 units were added to the metro’s inventory year-to-date, including the 504-unit Sky at Chandler Airpark. According to Yardi Matrix data, more than 108 multifamily projects totaling nearly 22,000 units were underway in the metro as of July, most of which were in upscale communities.ĭevelopment activity was concentrated in the Sky Harbor and North Tempe submarkets, where a respective 4,247 and 2,876 units were under construction as of July. It does not store any personal data.The Phoenix multifamily market continues to stay on solid ground despite the ongoing pandemic-induced economic slowdown. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. The cookies is used to store the user consent for the cookies in the category "Necessary". The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics".
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