Empire Planning 24-Story Midtown Phoenix Apartment Tower
Empire Group of Cos. plans to break ground next month on a 24-story apartment tower near the Phoenix Art Museum.
To be called The Whitney, that 24-story project will include 328 apartment units and 314,000 square feet of retail space. Brinkmann is general contractor for the project, which is set to rise at the southwest corner of Central Avenue and McDowell Road in downtown Phoenix.
The $165 million project in midtown is part of $1.22 billion in total development costs the Scottsdale-based developer has on its plate across four apartment tower projects — along with another $1.07 billion in build-to-rent projects totaling 3,500 units across 15 properties in metro Phoenix.
Also breaking ground this year will be the $280 million Revelry, which spans two apartment towers at the southeast corner of University Drive and Rural Road in downtown Tempe. A 17-story tower is connected to a 15-story tower by a 27,000-square-foot pool deck on the second floor.
Other News
Agador Spartacus Inks $58.5M Loan to Build Two Deltona BTR Communities
Agador Spartacus closed on a $58.5 million construction loan for two build-to-rent communities in Deltona, Florida. Anchor Loans provided the loan. The financings include approximately $30.2 million for Magnolia Cottages at Deltona, a 153-home community, and $28.3 million for Magnolia Villas at Deltona, a 126-home community. Located on adjacent parcels, the projects will add a...
Learn more
Newmark Affiliate Arranges $369M Financing for 11 Florida Affordable Housing Properties
Newmark Group arranged a $369 million Fannie Mae credit facility on behalf of April Housing, supporting the long-term preservation of an 11-property affordable housing portfolio located throughout Florida. The financing consisted of a $221.4 million fixed-rate draw and a $147.6 million floating-rate draw, structured as an interest-only facility through Fannie Mae. A buydown on the...
Learn more
Morehouse, Spelman Debut $147M Student Housing Project
Radnor Property Group, in partnership with Madrone Community Development Foundation, joined Morehouse College and Spelman College in breaking ground on The Den at Eight50 West: a $147 million student housing development in the West End neighborhood of Atlanta. The project is at 850 West End Avenue in Atlanta, steps from Morehouse and Spelman Colleges. The Den...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout