Luxury homebuilder plans for nearly 500 apartments in Phoenix

Oct 12, 2018, 9:20 AM | Updated: 5:01 pm
(Facebook Photo)...
(Facebook Photo)
(Facebook Photo)

PHOENIX — Single-family homebuilder Toll Brothers has planned its first apartments for metro Phoenix, pouring $132 million into the locations.

The Phoenix Business Journal reported this week that 243 units were to go up downtown at Fifth Avenue and Van Buren Street and 256 units were set for Central Avenue and Thomas Road. Combined, that gives the area 499 more living spaces.

The national luxury builder, which operates in 20 states, bought the central Phoenix site in 2007, regional director Todd Bowen told the Journal, intending to construct high-rise condominiums. The Great Recession ended that enterprise.

Each of the complexes were expected to open in 2020.

The downtown site, Bowen said, was “definitely an up-and-coming, very happening area.”

Activity has been high in the area. In September, an unusual marketplace, the Churchill, opened near Roosevelt and First streets. An eclectic mix of tenants are housed in repurposed shipping containers.

That same month, Nebraska’s Creighton University announced it would open a $100 million health sciences campus at the site of Park Central Mall, on Central Avenue near Thomas Road.

Toll Brothers, which has offices in Scottsdale, has built upscale apartment in Washington, D.C., suburban Boston, Massachusetts; Princeton, New Jersey and near Philadelphia, Pennsylvania.

Others have been planned for Atlanta, Georgia, and Dallas, Texas.

Lifetime Windows & Doors

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

(Pexels Photo)...

Former border agent indicted in sexual assault, kidnapping of Arizona minor

A former border patrol agent in Arizona was indicted Wednesday on charges of sexually assaulting and kidnapping of a minor, federal authorities said.
12 hours ago
(YouTube Screenshot)...

Lockdown lifted at 2 Scottsdale schools after police respond to gun report

Two schools in north Scottsdale were placed on lockdown for about two hours Friday morning after a student reported seeing a person with a gun.
12 hours ago
Henry Mcleod (Maricopa County Sheriff's Office Photo)...

Suspect accused of stabbing Mesa Fry’s employee after feeling ‘disrespected’

A man was arrested in Mesa after he allegedly stabbed a grocery store worker because he felt disrespected by him last month, authorities said.
12 hours ago
(Luke Forstner/KTAR News)...
Luke Forstner

Growing Asian District in Mesa budding with enthusiasm for restaurants, shops, diversity

The Asian District in Mesa has come to life with enthusiasm for its restaurants, grocers and variety of other businesses.
12 hours ago
(Butterfly Wonderland Facebook Photo/Getty Images)...

Weekend guide: Here are the biggest events around metro Phoenix for Dec. 2-4

With holiday season activities in full swing, here are some of the biggest events in metro Phoenix this weekend.
12 hours ago
(The Global Ambassador Photo)...
Kevin Stone

Mediterranean rooftop restaurant coming to Phoenix’s Global Ambassador hotel

Sam Fox announced that Theà Mediterranean Rooftop will be one of five original restaurants at his first hotel project, The Global Ambassador.
12 hours ago

Sponsored Articles

(Desert Institute for Spine Care photo)...

Why DISC is world renowned for back and neck pain treatments

Fifty percent of Americans and 90% of people at least 50 years old have some level of degenerative disc disease.
Quantum Fiber

How high-speed fiber internet can improve everyday life

Quantum Fiber supplies unlimited data with speeds up to 940 mbps, enough to share 4K videos with coworkers 20 times faster than a cable.
Day & Night Air Conditioning, Heating and Plumbing

Here are 4 signs the HVAC unit needs to be replaced

Pool renovations and kitchen upgrades may seem enticing, but at the forefront of these investments arguably should be what residents use the most. In a state where summertime is sweltering, access to a functioning HVAC unit can be critical.
Luxury homebuilder plans for nearly 500 apartments in Phoenix