Luxury apartment complex coming to north Phoenix
PHOENIX — A 325-unit luxury apartment complex is coming to north Phoenix near Happy Valley Road and 35th Avenue.
The 318,000 square feet multifamily property will consist of six, three-story buildings and is expected to feature 161 one-bedroom apartments, 140 two-bedroom apartments and 24 three-bedroom apartments, international real estate firm Hines announced.
An additional one-story building will include a clubhouse and fitness center that surrounds the pool.
Construction is set to begin in late 2020.
“Our luxury multifamily project is positioned well to meet the expanding need for suburban luxury multifamily options in the submarket,” Robert Trujillo, managing director for Hines, said in a press release.
The property is part of a larger commercial development by the Pederson Group of Phoenix that owns the adjacent Stetson Village shopping center.
Seven acres of retail services are planned for the shopping center, according to the release.
“We sought a quality multifamily developer to partner with us to create a fine mixed-use project. We’re thrilled to work with Hines,” Jim Pederson,
CEO of the Pederson Group, said in the release.
This will be Hines’ second luxury for-rent property in the Phoenix market.
The developer recently broke ground on a 25-story, 379-unit high-rise community at the Collier Center in downtown Phoneix.
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