Workforce housing complex 2nd Avenue Commons opens near downtown Mesa
Oct 20, 2023, 4:05 AM | Updated: 1:15 pm
PHOENIX — A ribbon-cutting ceremony was held Monday for the opening of a 144-unit workforce housing complex near downtown Mesa.
Second Avenue Commons consists of 12 three-story buildings at 140 W. 2nd Ave., east of Macdonald between Main Street and Broadway Roads. The buildings collectively house 48 one-bedroom and 96 two-bedroom units.
The apartment community is pet-friendly and features modern finishes and stainless steel appliances. It has a pool, wellness center and clubhouse. Residents will also have easy access to light rail and nearby restaurants, shopping and entertainment.
Real estate developer CaliberCos Inc. co-developed the property along with Cardinal Capital management. MEB Management Services is managing the leasing of units.
“The steps we’re taking to revitalize Mesa’s central corridor are bringing a renewed sense of history and character,” Mesa Mayor John Giles said in a press release.
“2nd Avenue Commons is a welcome addition, creating more opportunities for people to live in our downtown. We appreciate Caliber’s investment and commitment to Mesa.”
How is Caliber working to redevelop downtown Mesa?
Caliber began acquiring buildings in and around downtown Mesa, a designated Opportunity Zone, in 2017. The company is developing 10 buildings and approximately 160,000 square feet of mixed-use space. This includes Southwest Institute of Montessori Studies, which closed on a 10-year lease on Main Street, craft malthouse Sonoran Rows and Copper City Spirts. Recently, Level 1 Arcade bar opened on Main Street.
“The investment in downtown Mesa is a priority for Caliber, not only as a business growth strategy, but as members of the surrounding community,” Caliber CEO Chris Loeffler said in a press release.
“Our focus on housing solutions will directly support continued growth in the broader area, including the exciting and diverse new businesses that now call downtown Mesa home. We’re proud to be a part of the redevelopment efforts in Mesa, which are providing our investors with the opportunity to invest in meaningful, high-impact projects with competitive returns.”