Wexford Developments secured $49.45 million in construction financing for the development of Flagstaff Elkwood, a to-be-built, 224-unit multi-housing community, along with 6,000 square feet of retail space, in Flagstaff, Arizona.

Anticipated for completion in late 2024, Flagstaff Elkwood will consist of four buildings and a leasing center. The four-story residential buildings will offer studio, one- and two-bedroom units averaging 938 square feet each. Units will feature stainless steel appliances, quartz countertops, wood-style flooring and in-unit washer/dryers. On-site amenities will include a 4,000-square-foot leasing office and clubhouse with lounge area, fitness center, pool and spa and grilling area. In addition, residents will have access to storage space, a package hub and nearby amphitheater.

Flagstaff Elkwood will be positioned on 13.5 acres at the NEC of E. Butler Ave. and N. 4^th St. just three miles from Downtown Flagstaff and Northern Arizona University. The immediate area features numerous retail, recreation and dining options and is close to Interstate 40 providing access to the greater Phoenix area.