Development Team Pursuing 376-Unit Tempe Apartment Venture
Widewaters and Trammell Crow are seeking a permit for a 376-unit apartment complex development. The Phoenix Business Journal reports the 12-acre vacant parcel will be on a parking lot adjacent to the 25-acre Emerald City mixed-use project. Among the businesses already within the Emerald City project are IKEA, LifeTime Fitness and White Castle.
There will be 37 studio units, 207 one-bedrooms, 117 two-bedrooms and 15 three-bedrooms within the complex. Residents will also have access to a pool, spa, gym, yoga room and meeting spaces. The community college district, which owns the land, hopes the project will create opportunities for people employed at the Emerald Center to live closer to their workplace and reduce their commute times.
Maricopa County Community College District acquired the 25.29-acre property last November for $27 million from The Widewaters Group Inc., which bought the property three months prior, in August 2025, from Target Corp. for $20.5 million.
Other News
PTM Lands $125M Financing for St. Pete Multifamily Community
PTM Partners closed on a $125 million construction loan from GID to finance EDGE Collective II, a 330-unit Class AA multifamily high-rise including 19,000 square feet of retail space in downtown St. Petersburg’s EDGE District. Berkadia arranged the three-year, floating-rate construction loan on behalf of PTM Partners. The financing was arranged by Scott Wadler and...
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Plans Filed for 155-Unit Office-to-Apartment Conversion in Boston
Boston continues to be a hub for office conversion enthusiasts, with Kendall Capital planning to convert a landmark office building in Boston’s Financial District into a 155-unit residential property. The 155,000-square-foot project would be financed through historic tax credits, according to a report by Banker & Tradesman. Kendall Capital manager Mai Luo acquired the property...
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Long Island City Commercial Building Changes Hands for $6M
A local developer has purchased a commercial unit in Long Island City for $6.1 million, or approximately $407 per buildable square foot, with plans to redevelop the building into high-end condos. Marcus & Millichap negotiated the sale of the now-vacant property at 49-03 Fifth St., which was formerly home to an auto repair shop. The...
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Brokers
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Remax Professionals
Re/Max Real Estate Professionals | New York
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout