PHOENIX—Investment Property Associates celebrated the grand opening of its first class A, multifamily development in Ahwatukee with a ribbon cutting ceremony at Liv Ahwatukee. The luxury apartment community, developed and managed by IPA is situated on 26 acres near the southwest corner of Chandler Boulevard and 50th Street.
Liv Ahwatukee consists of 402 garden-style luxury apartment units in two and three story buildings. The unit mix includes one, two and three-bedroom floor plans, with sizes ranging from 781 to 1,249 square feet and starting at $969 per month. The contemporary, open floor plans feature full-size washers and dryers, private master baths, and entertainment kitchens with granite countertops and stainless steel, energy-efficient appliances. All units include a patio or balcony—many with pool, courtyard and mountain views.
Community amenities are available to residents 24/7 and include resort style pools and spas, a fully equipped fitness center overlooking the triple pool area, indoor and outdoor covered lounge areas, a high tech game room, sport court, an enclosed Bark Park, car care center, walking trail and more. Concierge services, valet recycling/trash services, fitness classes, wellness programs, on site personal training, mobile massage, dry cleaning and other high-end amenities are also available. The community is located just west of the I-10 freeway, providing easy access to major employers and a multitude of dining and retail options in Ahwatukee and nearby Chandler.
Scott Brooks, partner at IPA, tells GlobeSt.com, “We always perform extensive market studies before entering a new submarket, which takes into account population and job growth, existing supply of class A multifamily communities, as well as vacant land available to construct new communities. IPA's experience in Ahwatukee began in 2009 when we acquired and operated another multifamily community just down the road from Liv Ahwatukee. We understood from that experience that Ahwatukee was underserved for class A product due to very little new supply available and scarce land available to bring the new supply. Liv Ahwatukee was built on one of the few remaining large parcels west of the I-10. As a result, we have experienced rapid lease-up to date validating the notion that Ahwatukee residents were looking for the level of close-knit community and resort-style experience that Liv Ahwatukee offers. Besides Liv Ahwatukee, very little new product has come online west of the I-10 in Ahwatukee proper, primarily because Ahwatukee is largely built out and very few large parcels have been available for development. More new supply has occurred east of the I-10 in the Chandler area.”
MC Clark-Wayland of Scottsdale served as general contractor, with architectural design services by Whitneybell Perry and landscape design by Anderson Baron, both of Chandler. Interior design was provided by RC Interior Design.
“With a physical setting and amenities designed to help people live fuller lives, our communities encourage residents to embrace the company's values by offering daily opportunities for residents to enjoy activities and events centered on community, wellness, technology and sustainability” continues Brooks. “Our goal at IPA is to support personal growth and meaningful connections with others through thoughtfully planned amenities and genuine, caring team members who actively participate in community events as well.”
IPA's current Arizona multifamily portfolio consists of four Liv-branded apartment communities in the metropolitan Phoenix market, with plans for growth.
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