A 25-story apartment complex in downtown Phoenix is in the works to be completed by 2020 and will be managed by an international real estate company.
Located near Talking Stick Resort Arena at Third and Jefferson, the 379-unit complex will be the first multifamily project in the Valley for Texas-based Hines.
Luxury homebuilder Toll Brothers announced a month ago that it would have approximately 500 units opening in 2020 close to downtown.
The area “is currently experiencing a tremendous renaissance,” said Chris Anderson, Hines managing director and Arizona leader.
With a target audience of downtown professionals, plans include 75 studio, 179 one-bedroom and 125 two-bedroom residences in the multi-family complex.
Features include private conference areas, a fitness center, a large outdoor swimming pool and a community kitchen. An existing three-story underground grate will allow residents to park on-site.
Another metro Phoenix residential project is in the works for Hines. The privately owned company agreed to build a gated community last year in north Scottsdale. It marked Hines’ first Arizona residential project.
Located near 128th Street and Alameda Road, the project will spread across 40 acres and will include 31 single family lots.
Hines has offices around the world, including San Francisco, Moscow, London, Beijing, Sydney and Sao Paulo.