Multifamily Development Opportunity
W Campbell Ave
Frontage Rd
±0.5 Acres Frontage Rd
W Turney Ave
4402-4406 N Black Canyon Hwy 2944 N 44th St, Suite 200, Phoenix, Arizona +1 602 955 4000 Phoenix, Arizona 85017 naihorizon.com NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY For more information: OF THE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, Christopher Lewis LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING +1 602 393 6617 CONDITIONS IMPOSED BY OUR PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE [email protected] MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED. Multifamily Development Opportunity Property & Location Highlights • ±0.56 Acres (24,393 SF) at Camelback Rd & Black Canyon Hwy • Minimal site prep required • R-5 Multifamily Zoning • Utilities on property • Parcel #s: 154-18-005, 154-18-011, 154-18-017 • Minutes to Downtown Phoenix, Sky Harbor International Airport, • Dense and proven rental market within minutes of major employers Metro Center, major employers and more and conveniences • Excellent freeway access • Easy navigation along Black Canyon Hwy frontage road • Walking distance to bus line • Possible assemblage • Just outside of Opportunity Zone
W Campbell Ave
±0.5 Acres
Frontage Rd
Sale Price: $339,500 ($13.91/SF)
Christopher Lewis +1 602 393 6617 [email protected] Multifamily Development Opportunity Area Amenities
W Camelback Rd Osborn Middle School
N 35th Ave Granada Elementary School SUBJECT N 19th Ave
W Indian School Rd
Christopher Lewis +1 602 393 6617 [email protected] Multifamily Development Opportunity Major Employers | I-17 Corridor
USAA (3,892 employees), Cigna Healthcare of AZ (1,574 1 1 employees), Farmers Insurance (698 employees), Chubb Group Insurance (546 employees) American Express (6,764 employees), Honeywell (6,262 2 employees), Discover Financial Services (3,021 employ- 2 ees), Cox Communications (2,104 employees), Petsmart Inc (2,017 employees), Best Western (1,009 employees), Alorica (563 employees), Asurion (500 employees) 3 Waste Management of AZ (1,394 employees), Triwest 3 Healthcare Alliance (1,000 employees), Consumer Cellular (850 employees), Empereon Marketing (500 employees), Pinnacle West Capital Corporation (2,930 employees), Blue 4 Cross Blue Shield of Arizona (1,602 employees), General Dynamics (1,131 employees), Ping Inc (770 employees), 4 Cognizant Technology (600 employees) Grand Canyon University (4,114 employees), Abrazo 5 Healthcare (1,719 employees)
United Parcel Service (1,755 employees), Shamrock Foods SUBJECT 6 Company (1,755 employees), Kenyon Plastering Inc (800 employees) 5 Dignity Health (5,114 employees), U Haul (4,760 employ- 7 ees), VA Medical Center (3,300 employees), Centurylink (907 employees), Cable One Inc (681 employees), Terros Inc (570 employees), Shasta Industries Inc (548 employ- 6 7 ees), Universal Services of America (500 employees)
Banner Health (10,041 employees), JPMorgan Chase 8 (6,060 employees), Wells Fargo (4,285 employees), Quick- 8 en Loans (898 employees), The Arizona Republic (790 employees), Freeport Mcmoran Inc (790 employees), Uber (600 employees), Upgrade Inc (500 employees)
Source: City of Phoenix Note: All locations are approximate
Christopher Lewis +1 602 393 6617 [email protected] Multifamily Development Opportunity Grand Canyon University Located less than 2 miles from the Subject Property GCU has a bright future The Beginning as Grand Canyon College able to self-fund these investments with only nominal increases • Recreation and fitness centers Grand Canyon College was chartered on Aug. 1, 1949, with 16 in tuition for nontraditional students, while freezing tuition for tra- faculty and approximately 100 students in Prescott, AZ. In 1951, ditional students for 10 straight years. • Student Union and popular eateries along Lopes Way the college relocated to a 90-acre tract in West Phoenix and was fully accredited in 1968 by the Commission on Institutions of Community Transformation • Two new engineering classroom buildings dedicated to Higher Education. Established as a Baptist-affiliated institution One aspect of this transformative endeavor starts with the new cutting-edge STEM learning with an emphasis on religious studies, the school initially of- development project at 27th Avenue and Camelback Road that’s fered bachelor’s programs in education. Programs expanded to changing the face of the Canyon Corridor. Developed to be the • The Grove - a community of four suite-style residence halls include the sciences, nursing, business, music and fine arts. It gateway into West Phoenix, this new development will serve as exclusively for freshmen was during this time when the college started to develop a rep- a commercial hub featuring: utation for producing effective teachers, nurses and health care • Division I athletics, club sports teams, intramural sports professionals in the Southwest. • A four-story office complex teams
Becoming Grand Canyon University • Renovated GCU Hotel, resort-style pool and fitness • Academic, professional, social and recreational clubs While planning to change in institutional organization and status center to Grand Canyon University, Grand Canyon College identified • Academic and student support resources several landmark events during this transition: organizing pro- • Canyon 49 Grill and Grand Canyon Beverage Co. Source: www.gcu.edu grams and departments into colleges, offering graduate degree coffee shop programs, establishing the Grand Canyon University Foundation and the generosity of those who pledged or gave unrestricted • Building that will be home to a future business, eco- gifts valued at $1 million dollars or more. In May of 1984, college nomic and education innovation center trustees voted to prepare for transition to university status on the school’s 40th anniversary. Then GCU moved from being owned • This development is only the beginning for reshaping and operated by the Arizona Southern Baptist Convention to be- West Phoenix into a destination of economic, tourism, ing self-owned by the Board of Trustees. business, employment and educational growth. Our new enterprises (GCU Golf Course, GCU Hotel, Can- University Transformation and Investment yon 49 Grill, Grand Canyon Beverage Co.) also play a The university grew its campus student body from fewer than role in reviving the local community. 1,000 students in 2009 to over 19,000 ground students in fall 2017, where the incoming student GPA was 3.5. By 2016, more Tremendous transformation is happening now, and the future than 75% of the university’s traditional students study in rigor- looks even brighter. ous STEM and business programs. GCU’s nontraditional stu- dent body increased from approximately 22,000 students at the University Development start of 2009 to over 60,000 online students currently. Over 47% GCU’s campus continues to grow to meet the needs of students of GCU’s online student body is studying at the graduate level and cultivate world-class learning experiences. Here’s a snap- and that percentage is growing. shot of the campus today - a home away from home for our Lopes: In total since 2009, the university had invested over $1 billion dollars—and today, continues to invest in full-time faculty, im- • State-of-the-art GCU Stadium and GCU Arena proved technology infrastructure, new facilities and program- matic expansion in high-growth, high-demand areas such as • Contemporary residence halls and apartments with re- engineering, computer science and IT. The university has been sort-style swimming pools Click to Learn More About GCU
Christopher Lewis +1 602 393 6617 [email protected] Happy Valley Rd Happy Valley 0 1 2 3 4 5 R I- LEGEND Miles SYSTEM MAP Scale is approximate. MAPA DEL SISTEMA Pinnacle Peak Rd 17 Transit Center Valley Metro Rail Local Buses Light Rail, Local, Express Phoenix-Deer Valley Municipal Airport Frequent and reliable all-day rail Main bus route 29th Ave Park-and-Ride Regular service Deer Valley Dr E Marriott Dr and RAPID Bus Routes 19th Ave 27th Ave 27th Ave 23rd service operating 365 days a year Select trips only Barry Point of Interest linking Phoenix, Tempe and Mesa Limited service Deer Valley Rd Eective/Validez 10.28.2019 Goldwater Direction of Travel with connections to Sky Harbor High School R SR Central Avenue Honeywell Airport and many bus routes. Rose Garden Ln Rose Garden Ln Desert Ridge Marketplace St 73rd 602.253.5000 | valleymetro.org Pima Fwy Scottsdale Healthcare Dr Washington Agua Fria Fwy 7th Ave 101 Rail line is on 101 E Mayo Blvd Thompson Peak Pkwy this street Train stops only at Van Buren HonorHealth Scottsdale Beardsley Rd Beardsley Rd 51 RAPID Bus light rail stations Glendale Thompson Peak 7th Street Foothills Library Fast and frequent bus service from Apache Blvd Behrend Dr Yorkshire Dr park-and-rides to downtown Phoenix 7th Avenue Utopia Rd Blvd Tatum Abrazo Arrowhead Hospital E on weekdays 5–8 a.m. and 3–6 p.m. Union Hills Dr Rd Creek Cave Light rail line Roosevelt Union Hills Dr E 56th St Mayo Clinic See light rail map on reverse for details. Phoenix Campus E Foothills Paradise Valley 101 R I-E 12th Street Aquatics Center Ave 27th 17 Community College RAPID stops only at these RAPID route(s) Buckeye Road 59th Ave 59th Arrowhead Ave 57th points and at transit centers. 35th Ave 19th Ave
Scottsdale Rd Scottsdale 15th Avenue Bell Rd Bell Rd HolmesBlvd Bell Rd Bell Rd I-E I-10 East RAPID Express Bus Frank Lloyd Wright Blvd Bell/I-17 Fast and direct commuter service. 16th Street Surprise E I-W I-10 West RAPID E (Deer Greenway Pkwy Bell/ E I- I-17 RAPID no stops on freeway Express route(s) McDowell E Valley) SR 51 43rd Ave 43rd Hayden Rd
83rd Ave 83rd Ave 75th Ave 67th E Scottsdale SR SR 51 RAPID 19th Avenue Greenway Rd 29th Ave Greenway Pkwy Costco SURPRISE Airpark SME South Mountain East RAPID Tempe Express 27th Avenue Butherus Dr SMW South Mountain West RAPID Grand Ave Northwest Valley Express Lower Buckeye
28th Ave Raintree Dr Northwest Valley Express Walmart Country Gables Dr 51 Thomas 40th St 32nd St 73rd St 73rd 56th St Thunderbird Rd 64th St Surprise Express 7th St Dysart Rd Dysart Thunderbird Blvd University 83rd Pl 83rd St 94th Thunderbird Thunderbird Rd E Goodyear Express Thunderbird Rd Ave Scottsdale 32nd Street/40th Street
Rd 105th Ave
129th ASU West d Black Canyon Fwy Black Canyon Avondale/Buckeye Express 101 Sweetwater Ave Blv Fountain Hills Banner Boswell des 35th Avenue Hayden Rd Hayden Northsight Blvd Paradise Valley Mall Fwy Pima a s Library Chandler Express i
Medical Center l EL MIRAGE PEORIA 40th Street North Phoenix Cactus Rd Cactus Rd Cactus Rd Pa Chandler/Mesa Express PHOENIX Pointe Hilton E Tapatio Clis SCOTTSDALE Apache/Main Saguaro Northeast Mesa Express Blvd 31st Ave La Montana
111th Ave Dr Mesa Express Indian School 103rd Ave 103rd Mesa/Gilbert Express 83rd Ave 83rd 59th Ave 59th 35th Ave 19th Ave 51st Ave 51st 43rd Ave 43rd 43rd Avenue Peoria 28th Dr R I- 15th Ave 92nd St 92nd Peoria Ave Peoria Ave Shea Blvd 90th St Shea Blvd FOUNTAIN E Tempe Express 44th Street/Tatum Shea Blvd GAL Shea Blvd/SR 51 HILLS Tempe Express Grand Ave Cheryl Dr Metrocenter Cave Creek Rd (Dreamy Draw) Mustang Broadway Mountain View Rd Scottsdale Express YOUNGTOWN MultifamilyGlendale DevelopmentHatcher Rd St 3rd Opportunity 48th Street Community
Blvd Tatum 65th Ave College Dunlap Ave Dunlap/19th Ave Camelback Olive Ave Sunnyslope 51st Avenue
Agua Fria Fwy Agua Fria Rural Connector Alice Ave Roeser
31st Ave Butler Rural Route 17 Priest ValleyNorthern Ave 55th Ave MetroNorthern Ave TransportationNorthernNorthern System Via De Ventura PARADISE Rd Scottsdale Ajo/Gila Bend to Phoenix 59th Avenue Hayward Ave 101 99th Ave
Litchfield Rd Litchfield R SR GLENDALE VALLEY Bethany Home Commissary Rd Glendale E Glendale City Lot Rd Pima Light rail stop less than 2 miles from7th Ave Subject Property | Bus stop less than .5 miles from Subject Property Southern E Myrtle Ave 51 Glendale Ave 91st Ave Glendale Ave GlendaleGlendale Indian Bend Rd Hardy Luke Air E Force Base Westgate 7th St Mill/Kyrene Entertainment ValleyFwy Metro Valley Metro services: E coln Dr District Ave Central n Li Mill/Kyrene
ValleyPiestewa Metro is the regional public transportation agen- State Farm R I- Stadium Bethany Home Rd SUBJECT Ave 43rd Bethany Home Rd McDonald Dr McDonald Dr 67th Avenue 19th Ave/Montebello cy providing coordinated transit services to residents of • Local, Express and RAPID commuter bus service Cardinals Way Grand Ave Scottsdale 24th Street/Glendale Avenue Grand Abrazo Montebello Ave metro Phoenix. From regional bus, light rail and paratran- Community E 20th St Missouri Ave Canyon Central Missouri Ave College Scottsdale/Rural University Campus sit service to alternative commuter solutions, ValleyChaparral Met- • Light rail 16th St E 12th St 75th Avenue 67th Ave 67th 59th Ave 59th 51st Ave 51st
35th Ave Ave 27th 87 28th St Camelback Rd Park E Camelback Rd Central Ave/Camelback ro’s core mission is to develop and operateScottsdale a network of Baseline Camelback Rd Fashion Chaparral Rd Beeline Hwy 101 transit services. Square • Neighborhood circulators Northern/Shea LITCHFIELD Camelback Drinkwater GAL 15th Ave CampbellCampbell Campbell Ave Blvd Carl T. Hayden Veteran’s High School Miller Rd Reef Granite Hayden/McClintock
107th Ave 107th 7th Ave Aairs Medical Center 5th Ave
PARK Indian School Rd 19th Ave Indian School Indian School Rd Plaza Mission • Rural101 route 83rd Avenue Indian School Rd
56th St Dunlap/Cave Creek E OsbornOsborn Osborn Rd Valley Metro exists to connect communities and enhance
Estrella Mountain 19th Ave/Camelback St 24th St Joseph’s 32nd St Pima Dobson Community College 17 Phoenix Hospital lives. • Paratransit service Red Mountain Fwy 83rd Ave 83rd Ave 75th 93rd Ave 93rd 91st Ave Park Thomas Rd College ThomasThomas Thomas Rd 202 Alma School
Fwy Pima Thomas Rd Granite Peoria Avenue Banner Estrella Desert Sky Mall Phoenix Gilbert Rd/ Medical Center Encanto Blvd EncantoEncanto Children’sWhat we do Reef• SeniorVanpool service Elliot/48th Street 12th St McDowell E Dysart Rd Hospital Center Boeing McDowell Rd R I-W Banner University We plan, build, operate and maintain a safe, regional, Power Rd Country Club/Arizona Avenue 44th St Central Ave Central Scottsdale Rd Scottsdale Rd Hayden 52nd St McDowell Rd McDowellMcDowell Medical Center 51 McDowell Rd 64th St Miller Rd McDowell Rd multi-modal transportation system. • Commuter programs E Mesa Drive Goodyear E E Downtown Desert E R I-W Botanical Garden Mesa Community Cactus E E 10 E 10 Roosevelt 10 E College at Red E 79th Ave/ Papago Fwy Phoenix SkySong Roosevelt Falcon Field Mountain Avondale E E E Phx Stapley I-10 E St History Galvin Food City Five-Year Strategic Plan Pkwy see inset Barkley Van Buren St E 11th St Van Buren St Zoo McKellips Rd McKellips Rd McKellips Rd Gilbert Road Van Buren St Plaza 3rd St 12th St12th StWashingtonValley St 24th Metro St24th St Regional38th St38th St 44thPublic St44th St 50th St50th StTransportation Authority FY 2016-2020 June St Thunderbird AdamsAdams 202 Ingram St
(RPTA) Through 2020, Valley Metro is dedicated to practicing a 48th St Avondale Civic Center Washington St Priest DrPriest Dr Ray Mesa McLellan Rd Litchfield Rd Litchfield Jeerson
TOLLESON Rd Lindsay Gilbert Rd 43rd Ave 43rd 75th Ave 75th Ave 67th Ave 59th 35th Ave JeersonIn 1993,St Valley Metro, along with local governments, be- well-planned andRiverview developed strategy that focuses on a MESA Greenway PHX Sky Train® 202 Hohokam Brown Rd Buckeye Rd Buckeye Rd 1st Ave/ Center Pkwy Shopping Center Stadium Rd Power Central Ave Central Central Station Avondale Blvd Avondale E Chandler Blvd Yuma Rd Jeerson gan funding a regionalSky Harbor Blvd transit system that now covers number of ways to value and ridership.Brown The Rd plan, created
routes continue on inset map below continue routes Pima St 143 Rio Salado Pkwy Mill Ave/3rd St Tempe Riverview 8th St 513 squarePhoenix miles. Sky Harbor Tempe Transport Ctr. withMarketplace inputPark from key stakeholders, includes a data-orient- Bell Durango St Van Buren/Central/1st Ave 17 International Airport Veterans Way/College Ave AVONDALE 1st St Power
ed comparison with peer agencies and best practices Rd Sossaman Val Vista Dr Vista Val Greenfield Rd Greenfield Rd Higley Rd Recker Main St University Dr University Dr/ Smith Rd Rural Union Hills/Mayo Lower Buckeye Rd R SMW Today,R I-Emember agencies include Avondale, Buckeye,University Dr from the public transportation industry. University Dr
24th St 24th Sycamore/Main St Gilbert Rd/Main St ASU Smith-MartinPrice-101 Fwy Alma School Country CenterClub Mesa Dr Stapley GAL Grand Avenue Limited Dr Hardy Main St Main St Buckeye and Goodyear Sierra Linda Chandler, El Mirage, Fountain Hills, Gilbert, Glendale, Circulator routes not shown on map High School Ed Pastor Fwy Hohokam 52nd St 22nd Ave 22nd 10 Apache Blvd Main St Benedictine Banner Baywood Medical Center Broadway Rd Goodyear, Maricopa County, Mesa,Tempe Peoria,HS Phoenix, 5 Goals, 5 Years1st Ave University Broadway Rd Baywood Ave Broadway Rd West E 303 Virginia Atlanta Ave Scottsdale, Surprise, Tempe, Tolleson, Wickenburg and BroadwayValley Rd Metro has set out a handful of goals to operate Ave R SME DorseyMcClintockMcClintock LnDorsey Ln Buckeye Palm Ln Pebble Creek Pkwy Roeser Rd Grace Comm. McDowell Rd Youngtown. The Valley Metro RPTA Board of Directors a more high-value, all-inclusive program of ridership 17 Alameda Dr Church 101 202 Sycamore Dobson Rd 35th Ave Papago Fwy Dr Priest Center St Center Dr Stapley Gilbert Rd E Dr Club Country Mesa Dr Southern Ave set policy for bus and paratransit services. Southernaround Ave metro Phoenix. Southern Ave Rd Hawes Rd Ellsworth Crismon Rd Signal Butte Rd 10 E 563 E 563 10 South Tempe Banner Desert Medical Center Mountain Mill Ave Hampton Ave Library Rd Rural Mesa Community College Superstition Fwy Superstition Springs 7th St Community
16th St 24th St/ 40th St 32nd St
BUCKEYE GOODYEAR 7th Ave 48th St
Lewis 60 es O Jesse 60 E E E E 60 15th Ave
19th Ave Valley Metro Rail • Increase customer focus 27th Ave 27th College Baseline Coury Ave Van Buren St Arizona Mills Mall West Juanita Inverness Ave 75th Ave 75th Central Ave Central 51st Ave 51st Baseline Rd In 2002, Valley Metro Rail, Inc. was formed TEMPEto design, TargetTarget Baseline Rd Mesa Ave Javelina Baseline Rd Baseline Rd Dr Farnsworth Baseline Rd Kiwanis E Maricopa 27th Ave/ R SMW w construct and operate a 66-mile high-capacity transit • E Advance performance-basedE operations e Park County Betty Fairfax Cesar Chavez Baseline ns Pkwy E Cornell Dr Superior Verrado Wy Verrado Tr Jackrabbit Rd Perryville Yuma Rd Rd Citrus Ln Cotton Ave Sarival Pkwy Estrella Ave Bullard Sunland High School High School system. Court Solomon 685 685 E Village Dobbins Rd Guadalupe Rd East 685 left on main map above continue routes Guadalupe Rd • Increase transit ridership to Gila Bend and Ajo E Buist Ave GUADALUPE Arizona Ave Arizona Member cities include Chandler, Glendale, Mesa, Phoe- Alma School Rd McNeil St Grove Pkwy Highland High School nix and Tempe. The Valley Metro Rail Board of Directors • Focus on economic development, regionalGilbert comVaughn- Ave
Chilton Dr Rd Power
Price Fwy Price Page Ave 15th Ave
Dr Vista Val
Elliot Rd Elliot Rd E Pl San Marcos Elliot Rd
12th Ave sets policy while providing general oversight of the agen- petitiveness and financial resources Downtown Phoenix 10th Ave South Mountain Park Click to View Full System Map E CostcoCostco cy and its responsibilities. State Fairgrounds Gilbert Art Museum IKEA High School McDowell Rd McDowell Rd • ASUAdvance Research Park the value of transit Ave Central Rural Rd Rural 3rd St 3rd E Lynwood St Brill St Warner Rd Warner Rd Warner Rd 5th Ave 5th 9th Ave 9th 7th Ave 7th 3rd Ave 3rd Grand Ave Ave 15th Willetta St Willetta St St 2nd E E E Tempe Source: www.valleymetro.org Central Sports Knox Rd Library Cobblestone Dobson Rd Carl’s Jr. 202 Culver St E E E 10 Complex Ko 48th St Hardy Dr Hardy Village GILBERT
E E E m Ray Rd Pkwy River a CHANDLER Ray Rd Food City Plaza Civic Center Dr t Ray Rd So k s E E 10 R I- E e sa Moreland St L E m n a R I- W E Margaret T. Hance n
Latham St Rd Park Portland St 101 Sterling Portland St Downtown Tempe Williams Campus Loop N GAL Linden St Christopher Vee Quiva Lewis Country Club Way Club Country Intel Dr McClintock Downtown Tiburon Ave Texas Ave 54th St Rd Kyrene E Dr Priest Roosevelt St Casino Chandler Blvd Chandler Chandler Blvd Williams Field Rd Roosevelt St E E +1 602 393 6617 Phoenix-Mesa 12th Ave 12th 17th Ave 17th 19th Ave 19th 16th Ave 16th 11th Ave 11th 202 Horizon ASU Gateway Airport
E R I- W Garfield St St Washington St Delaware Polytechnic Central Ave Central 4 Educational Center Boston St 7th St 7th 9th St 9th
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[email protected] Ave 51st h Frye Rd Chandler-Gilbert Rural Rd Rural McKinley St St Tempe Town 1st Ave 1st Lake Frye Rd Chandler Fashion Center Chandler Community College Gilbert Rd
3rd St 3rd Dignity Morelos St 1st St 1st 202 Fairview St S Pierce St Pecos Rd Rio a Health Geronimo St Pecos Rd Fillmore St l Pecos Rd
E ad Tempe Beach Park 40th St/Pecos Rd Hospital Dr Vista Val E Fillmore St 48 o R io R I-E Lone Butte Casino Sa
3rd Ave 3rd P 4th Ave 4th 2nd Ave 2nd Grand St 5th la Civic Komatke k d St Hamilton
1st St wy o E Campus Loop Williams Polk St Polk St Arizona Hayden Pkwy 40th St Pecos Rd E Space Arizona Health Dignity Health
ASU Biomedical Butte 202 University Park Ave Center 62 e R I- W Park Downtown Center 48 Crossroads Towne Center Mercy Gilbert
Complex v Germann Rd Germann Rd Medical Center A Mill Ave Van Buren St 3rd St Van Buren St Tempe Transport Ctr. 72 Phoenix Sky Harbor International Airport E Price Rd Price
St 9th h s Veterans Way/College Ave Rittenhouse Rd 13th Ave 13th 10th Ave 10th 5th Ave 5th 6th Ave 6th
A Chandler
Heritage Ave Farmer 5th St Sun Devil 32 44 Ryan Rd Monroe St 38th St/Washington Rd Sossaman Rd Ellsworth Central Station Square Stadium Washington St Comerica Symphony Arizona 1 1 Queen Creek Rd Adams St Ave Arizona E Adams St Theater Hall R SME MILL V City Science ete
r Dr Packard Hall Beltline Rd an R I- Center R SR AVENUE 44th St/ l Rd Washington St City s Rd Rural o
Mill Ave W DISTRICT Hall a Washington o y h State Capitol Washington St PHX Sky Train® PHX Sky Train® c GAL University Dr Ave College 62 S E Carnegie Library Park Convention 30 30 Phoenix a Terminal 3 Terminal 4 m Police l
Center 72 Basha Rd 13 A Ocotillo Rd Ocotillo Rd QUEEN R I- GAL t 9th St Airport Je erson St Je erson St n S Dobson Rd Je erso Bureau Snedigar Sports Complex CREEK to Rental Car Center Car Rental to 10th St 13 44th St , , , , , , Jackson St Ave Central Talking Stick
1st Ave 1st ASU 15th Ave 15th Ave 7th 9th Ave 9th 3rd Ave 3rd Myrtle Ave Ave Forest 2nd Ave 2nd Resort Arena Sky Harbor Blvd 1st St 1st 3rd St 3rd Intel , , , , , Chase St 7th Sky Harbor Blvd
I- E, I- W, SR , SME, SMW 11th St CAMPUS Ave ter Chandler Heights Rd Field s i l l West Economy NORTH CURB
Buchanan St Gammage A Rd Rural 13 Buchanan St c Park & Walk 32 Auditorium Lemon St M SOUTH CURB 16th Ave 16th 19th Ave 19th 18th Ave 18th Lincoln St Walkway Lincoln St Ave Farmer Ash Ave Maple Ave Mill Ave to Term. 2 Grant St 13th St Apache Blvd Grant St Grant St MAP IS NOT TO SCALE Terminal 3 Terminal 4 East Economy © 2012–2019 Valley Metro Designed by CHK America 65 Parking Sherman St St Luke’s Rental Car Bus Subject to change. For detailed information, please refer to the individual route maps. R SMW 66 72 College Ave College Hospital Normal Ave Center Shuttle stop Terminal 2 Sujeto a cambios. Para información detallada de las rutas, por favor vea los mapas individuales de las mismas. N Multifamily Development Opportunity Commercial Building & Permits Commercial Process Overview A commercial building permit is required for residential construction involving multi-family projects of three or more units, condominiums, and apartment buildings as-well-as non-residential con- struction including new construction, remodels, additions, tenant improvements and changes-of-use. The permit is issued when structures are designed in accordance with the building codes and all other applicable codes and ordinances, to ensure the safety of the building and its’ inhabitants.
Some steps in this process may not be necessary, depending on the type of project. For example, a tenant improvement may not have any site issues while a new project or building addition would.
New commercial projects require preliminary site plan approval before building plans can be submitted for review. The first step in the site plan approval process is the site pre-application meeting. You can access this link to find for a Pre-Application Submittal Checklist Commercial, Multi-family, and Subdivision (PDF) or a Pre-Application Submittal Checklist Downtown Code/Walkable Urban Code Projects (PDF). A Preliminary Site Plan Checklist (PDF) can also be accessed.
Once preliminary site plan approval has been obtained, building plans may be submitted for review. Licensed professionals are required to prepare building plans for new commercial construction. Customers are advised to review the criteria for services of design professionals, ensure their licensing is up to date and review the Commercial Building Permit Submittal Checklist (PDF).
When ready to submit building plans the customer contacts the project team for a pre-submittal meeting. After authorization, the customer submits the required building plans, site plan and Con- struction Permit Plan Review Application (PDF) sheet at the payments and submittals counter. Plan review fees are collected upon submittal.
Staff reviews the plan for compliance with the approved preliminary site plan, project conditions of approval, the required building plan checklist and all applicable codes and ordinances. The as- signed site planner reviews the site plan for approval. If corrections are required, staff will contact the customer to pick up plans, make corrections and re-submit for another review. Once approved, staff will create the necessary permits and contact the customer for pick-up.
Note: If a third review is required, additional fees must be paid.
The customer pays the appropriate permit fees and is given the building permit(s) and approved plans.
Click to Learn More About the City of Phoenix’s Commercial Permitting Process
Source:www.phoenix.gov/pdd/development/permits/commercial/process-overview
Christopher Lewis +1 602 393 6617 [email protected] Multifamily Development Opportunity Multifamily Development Market Multifamily Market Overview Summary Elevated demand for apartments, fueled by robust employment growth and limited residential development, has mitigated supply-driven pressure on vacancies since the construction boom started in 2013.
Tight apartment fundamentals have contributed to ample rent growth that is more than double the U.S. rate. Thanks in part to healthy job gains and comparatively affordable rent, the market has achieved rent gains while absorbing an inundation of new supply. The Valley’s annual rent growth has consistently ranked among the best in the nation during the past two years.
Investors are increasingly bullish on Phoenix. The market garnered a record $6 billion in sales volume last year and is on pace to set a new record level of investment activity this year. Pricing has surged over the past several quarters, contributing to the compression of cap rates below 6% for the first time this decade. Despite the compression, Phoenix still offers a 150–200-basis-point spread over California rates, which continues to drive yield motivated investors to the market.
Construction Construction activity picked up in the first half of the year, as developers attempt to meet renter demand. Pent up demand from years of limited residential building in the depths of the recession and new demand fueled by healthy employment growth are motivating builders.
Approximately 8,900 units were added to inventory last year, the highest level of annual completions on record. Deliveries moderated in the first half of the year but will accelerate in the remainder of 2019 and 2020. About 14,000 units are currently underway, with delivery dates extending into 2022. About 7,500 units are expected to deliver this year, slightly down from last year. However, new supply will rise again in 2020.
Early in the cycle, top-tier units in high-income suburbs made up the majority of construction. More recently, development has spread into other areas. The revitalization of Downtown Phoenix has made the submarket a top destination for millennials and a hot spot for multifamily development, which wasn’t the case five years ago. Apartment inventory in the Downtown Phoenix Submarket, which includes Midtown and Uptown, expanded by roughly 15% since 2016, the most significant increase of any submarket in metro Phoenix. The downtown supply wave is poised to continue, with approximately 3,800 units under construction.
Aside from downtown’s explosive growth, the East Valley continues to receive high levels of new supply. Developers seek to capitalize on the area’s concentration of affluent renters and employment growth, stimulated by several major corporate expansions and relocations.
Underscoring this trend, four East Valley submarkets—Chandler, North Scottsdale, Old Town Scottsdale, and Tempe—received about 40% of the metro’s new supply in the past year. While these areas have a full construction pipeline, developers have also branched out to other growing but overlooked regions of the metro in the West Valley and Deer Valley submarkets.
New supply is limited to luxury units that command high rents, in large part due to higher land values and the rising cost of construction. Roughly 90% of units underway are 4 & 5 Star. The unmet demand for affordable housing could present severe consequences since the dwindling supply of lower-tier rentals has put consistent upward pressure on rents.
Notwithstanding the onslaught of new high-end units, many recently delivered properties have leased quickly. After completion in May, The Local, a 4 Star apartment complex near Arizona State University, was more than 75% occupied at the end of 19Q3.
Source:www.costar.com City of Phoenix Building Permits (10 or More Family Units) 174 169 15 *as of 12/17/19 Permits Issued Since Last Year Permits Issued YTD Permits Issued This Month
Christopher Lewis +1 602 393 6617 [email protected] Multifamily Development OpportunityFor Sale 4402-4406 N Black Canyon Hwy Property DemographicsDemographics Map & Report POPULATION 1 MILE 3 MILES 5 MILES DEMOGRAPHICS 1 Mile 3 Miles 5 Miles Total Population 30,957 191,274 508,531 2019 Median age 27.4 31.3 31.6 Median age (Male) 26.4 28.7 29.9 Population 30,957 191,274 508,531 Median age (Female) 25.8 29.6 31.0 Households 9,144 65,437 176,337 HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES Avg Household Size Total households 3.36 2.89 9,144 65,4372.83 176,337 Owner Occupied Housing Units# of persons per HH2,949 28,496 3.3 78,0063.0 2.9 Average HH income $41,014 $58,584 $61,977 Renter Occupied Housing UnitsAverage house value6,194 36,941$163,801 $229,09598,331 $269,534 Average Household Income* Demographic data$41,014 derived from 2010 US Census$58,584 $61,977 2024
Population 33,056 205,013 544,497
Households 9,760 70,464 190,353
Avg Household Size 3.36 2.88 2.81
Owner Occupied Housing Units 3,221 30,964 84,748
Renter Occupied Housing Units 6,539 39,500 105,605
Average Household Income $47,533 $68,669 $72,486
Christopher Lewis +1 602 393 6617 [email protected] Christopher Lewis +1 602 393 6617 [email protected] For Sale
Multifamily Development4402-4406 Opportunity N Black Canyon Hwy Location ProximityMaps Map
Anthem
Deer Valley
Downtown
Tempe Buckeye
Drive Time From Subject To:
Anthem 27 Min Buckeye 40 Min Deer Valley 16 Min Downtown Phoenix 9 Min Sky Harbor 10 Min Tempe 21 Min
Christopher Lewis Christopher Lewis +1 602 393 6617 +1 602 393 6617 [email protected] [email protected]