Located in the transforming downtown market of Phoenix, AZ, the 2nd fastest growing, and 5th largest city in the country. This new ground-up development construction project is located in the desirable Roosevelt Art District across from a grass city park and just a couple blocks from light rail station. Arizona State University is the largest university in the US and has recently expanded the university with a downtown campus of nearly 15,000 for the business and graduate school. It is a smaller project of only 70 units and a small amount of retail wrapping the concrete parking pedestal.
The project is looking to attract an environmentally conscience tenant that will appreciate the eco-friendly development offering: solar, grey water recycling, and a car share program, and other environmentally friendly amenities that currently exceed any other project in the market. The project is expected to be complete in the first half of 2022. Lower leverage of 53% LTC should enhance available cash out refinance.
Live Camera Link Below:
301 W Roosevelt St, Phoenix AZ 85003
Photo taken January, 2022
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