Empire Group Starts Work on $288M Tempe Apartment Community
One of the Empire group of companies broke ground Monday on Revelry, a two-tower, $288 million luxury project in Tempe. Aspirant Development, the luxury infill division of Empire Group, is building a 15-story tower and a 17-story tower on the site.
Mavik provided $299 million in financing for the 533-unit Class A high-rise community. Malcolm Davies, Kyle McDonough and Alex Rossinsky of WAY Capital arranged the financing.
Gensler is the designer, Layton is the general contractor for the project.
The two towers will be connected by a 27,000-square-foot pool deck on the second floor and will include a clubhouse with a spa and fitness center, as well as a two-lane bowling alley. Other lifestyle amenities include pickleball courts, wellness spaces, sauna, cold plunge, aromatherapy rooms, yoga terrace, lounges with a bar and fireplace, a golf simulator, a bowling alley, arcade and dog spa, co-working spaces and coffee bar and approximately 5,500 square feet of retail space on the first floor across two suites, with an additional 10,800 square feet on the second floor.
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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