347 multifamily units
430 parking space
Our multifamily project, now advancing in design, is prominently located at the intersection of 1st Street and Pierce in downtown Phoenix, Arizona. The development is situated in an area that is central to more than 150,000 jobs, making it an exceptional choice for city professionals. The development is also adjacent to the Roosevelt Arts Corridor, a bustling hub of creativity and culture, which further enhances the location’s appeal. Residents will enjoy the neighborhood’s walkability and access to a broad array of amenities, including local restaurants, entertainment venues, boutique retail shops, and grocery stores.
Phoenix, the dynamic capital city of Arizona, is among the fastest-growing metropolitan areas in the United States. The city has seen an impressive population growth of 11.2% over the past five years, mainly attributable to a vibrant economy and abundant high-quality job opportunities in the healthcare, education, and technology sectors. This remarkable population surge generates strong demand in the residential market, reducing vacancies and encouraging rent growth.
The increasing population and job growth trend is projected to continue in Phoenix, putting our project at 1st & Pierce in a prime position to capitalize on this expansion. Residents will enjoy the dual benefits of a short work commute and easy access to surrounding neighborhood amenities, ideal for evenings, weekends, and those work-from-home days.
The development at 1st & Pierce is designed to instill a sense of belonging in each resident while offering sought-after amenities in the post-pandemic era. These will include expansive outdoor spaces, a well-appointed co-working lounge for remote work days, a fitness center to support a healthy lifestyle, and a relaxing swimming pool. All these amenities are just steps away from numerous dining and socializing opportunities at neighboring bars, restaurants, and entertainment venues.
With approximately 360 units, around 8,500 SF of retail area, and nearly 335 parking spaces, construction of the 1st & Pierce project is set to commence in mid-2024. We aim for a completion date in mid-2026, with the project anticipated to stabilize in 2027. This project represents an exciting part of Phoenix’s thriving urban development story.