PHOENIX—Resmark Apartment Living, a division of real estate investment advisor The Resmark Companies, announce a new joint venture with Westfield and Greystar to develop a 344-residence apartment community in Desert Ridge that recently broke ground. The almost 15-acre site is located at the northeast corner of East Deer Valley Road, west of north 56th street.
“This location provides the best of Phoenix and its well-established master plan,” Ziv Cohen, COO, Resmark Apartment Living, tells GlobeSt.com. “The employment access to urban areas of Phoenix and Scottsdale is phenomenal. Then there are the walkable amenities, the access to Desert Ridge, and you can walk out and enjoy the open spaces—biking, hiking and walking right out your front door.”
Cohen emphasizes the partnership with Westfield and Greystar: “We have partners that possess considerable experience in the local market, which is an established hub for major employers and continues to grow.”
The new project will be adjacent to major employers including the Mayo Clinic Hospital, Desert Ridge Marketplace and the JW Marriott Resort. Also nearby is the Scottsdale Airpark, home to approximately 50,000 employees and 2,600 companies, including national or regional headquarters for major corporations like GE Capital, Vanguard Group, GoDaddy.com and JDA Software. The location provides easy access to downtown Scottsdale and Phoenix and Sky Harbor International Airport.
The community will consist of nine separate residential buildings, ranging in height from two to four stories, and will include studio, one- and two-bedroom apartments. The floor plans range in size from 677 to 1,163 square feet with an average size of 912 square feet. The project will also include separate, free-standing parking garages for residents.
Todd & Associates, Inc., the local architecture firm commissioned for the project, has incorporated the natural topography of the surrounding desert into the design, celebrating the Sonoran landscape and its architectural heritage in a contemporary context.
The new community is expected to be complete in late 2015.
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