A Toll Brothers to invest millions to build 499 apartment units in Phoenix

 

 

 

“You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur “ . ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA,  CLICK HERE  AND PLEASE CALL ME.     

Office: 602-445-4113,  Direct : 602-759-1209 , cell: 520-975-5207 or email me walterunger@ccim.net.  ….  VIEW ALL OF WALTERS LISTINGSLet me know if you are interested in Apartments: CLICK HERE FOR APARTMENTS FOR SALE     

By Angela Gonzales  – Senior Reporter, Phoenix Business Journal

Toll Brothers Inc. is investing $132 million to build 499 apartment units in downtown Phoenix.

While the Horsham, Pennsylvania-based homebuilder (NYSE: TOL) has been constructing single-family homes in metro Phoenix for years, its relatively new apartment living division is making its debut in the Valley.

Plans call for investing $62 million to build 243 units at the northwest corner of Fifth Avenue and Van Buren Street in downtown Phoenix and another $70 million to develop a 256-unit luxury apartment complex at Central Avenue and Thomas Road in midtown Phoenix.

Todd Bowden, regional director of development and acquisitions for Toll Brothers Apartment Living, said the mission of the division, created in 2011, is to build and own Class A, luxury multifamily rental projects.

“Over the last several years we have expanded and had a presence in other growth markets in the country,” Bowden said. “We now have teams in Atlanta, Dallas, Phoenix, Southern California and Northern California. We are looking at other markets as well.”

In 2007, Toll Brothers bought the parcel at Central and Thomas with plans to build a high-rise for-sale condominium project, Bowden said. But when the Great Recession hit and the economy tanked, the homebuilder scrapped plans to build on that site.

Now Toll Brothers Apartment Living owns that land, which is near light rail and within walking distance of Park Central Mall, which will be home to Creighton University’s new medical school.

GC McShane was selected as general contractor for that 256-unit apartment complex at 31 E. Thomas Road, while Todd & Associates is the architect. The five-story project — to be called Haverly — will include an above-ground parking structure.

“We think it’s a fantastic midtown location,” Bowden said.

Expected to open in 2020

Earlier this year, the company bought a parcel at the northwest corner of Fifth Avenue and Van Buren Street with plans to build a 243-unit apartment complex. Plans call for building two levels of parking under four levels of apartments on that project, which has yet to be named.

A general contractor has not yet been identified, Bowden said. Orange County-based Architects Orange is the architect for that project.

Both projects are expected to break ground next year and be open in late 2020, he said.

Bowden said it’s too soon to determine how much rents will be for both projects, which will be managed by Toll Brothers Apartment Living.

A big part of what led him to that site is the downtown vibe. It’s across the street from the newly opened Van Buren concert venue and a few blocks from Crescent Ballroom, a restaurant and concert spot.

A few blocks away, a downtown Fry’s grocery store is on track to open by the fourth quarter of next year.

“It is definitely an up-and-coming, very happening area,” Bowden said.

This is only the beginning, he said.

“We’re always interested in looking at new locations,” he said. “We are considering premium locations anywhere in the Valley. We’re actively working to bring other projects to market as well.”

The goal, he said, is to hold and manage these projects for the long term.

“How that ultimately plays out remains to be seen,” Bowden said. “There are a multitude of factors to those decisions. We’re operating under a long-term hold strategy.”

 

 

“You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur “ . ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA,  CLICK HERE  AND PLEASE CALL ME.    

Office / Direct : 602-759-1209 , cell: 520-975-5207 or email me walterunger@ccim.net.  ….  VIEW ALL OF WALTERS LISTINGSLet me know if you are interested in Apartments: CLICK HERE FOR APARTMENTS FOR SALE     

Timeline of Arizona from  900 BC – 2017                 

WHY PHOENIX? AMAZING!!!  POPULATION – IN 1950 THERE WERE 331,700 PEOPLE LIVING IN PHOENIX – “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”

PHOENIX TOPS US IN POPULATION GROWTH (MORE THAN LA, NYC) AND WHY THAT’S GOOD FOR THE ECONOMY, BUSINESS

FROM ME:                                                                                    

Phoenix Commercial Real Estate and Investment Real Estate: Investors and Owner / Users need to really know the market today before making a move in owner user Commercial Properties, Investment Properties and land in Phoenix / Maricopa County, Pinal County / Arizona, as the market has a lot of moving parts today. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land  Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands Commercial Properties and Investment Properties. I am marketing my listings on Costar, Loop-net CCIM, Kasten Long Commercial Group.  I also sold  hundreds millions of dollars’ worth of  Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with  brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also internationalClick here to find out what is a   CCIM:   https://en.wikipedia.org/wiki/CCIM 

PLEASE CALL ME –  Office: 602-445-4113,  Direct : 602-759-1209 , cell: 520-975-5207 or email me walterunger@ccim.net

“You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur “ . ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA,  CLICK HERE  AND PLEASE CALL ME.     

Office: 602-445-4113,  Direct : 602-759-1209 , cell: 520-975-5207 or email me walterunger@ccim.net.  ….  VIEW ALL OF WALTERS LISTINGSLet me know if you are interested in Apartments: CLICK HERE FOR APARTMENTS FOR SALE     

VIEW ALL OF WALTERS LISTINGS

WEEKLY LAND CLOSING UPDATE / THROUGH October 5, 2018 / Phoenix Arizona Metro, Maricopa County, Pinal County.

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WEEKLY APARTMENT CLOSING UPDATE THROUGH July 27, 2018,  Phoenix Arizona Metro.

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WEEKLY APARTMENT CLOSING UPDATE THROUGH June 22, 2018,  Phoenix Arizona Metro.

 

Walter Unger CCIM

Senior Associate Broker

Kasten Long Commercial Group

5110 N 40th Street, Suite 110

Phoenix , AZ 85018

Office: 602-445-4112

Direct: 602-759-1209

Cell:    520-975-5207

Fax:       602-865-7461

walterunger@ccim.net

www.Walter-Unger.com

www.KLCommercialGroup.com

View All My Listings

What is a CCIM.

 

8 Reasons You Should Invest in Land

Timeline of Arizona from  900 BC – 2017                                                                 

WHY PHOENIX? AMAZING!!!  POPULATION IN 1950 – 350 K PEOPLE; “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”

PHOENIX TOPS US IN POPULATION GROWTH (MORE THAN LA, NYC) AND WHY THAT’S GOOD FOR THE ECONOMY, BUSINESS

CLICK HERE:  VERY COST EFFECTIVE SPONSORSHIPS AVAILABLE / South Scottsdale: Where the World Comes to Play and Innovative Companies Excel”

 

DOT – LOOP 202 / SOUTH MOUNTAIN FREEWAY / PHOENIX AZ – UNDER CONSTRUCTION

ARIZONA FACTS – YEAR 1848 TO 2013

VIEW ALL OF WALTERS LISTINGS

What is a CCIM.

CLICK HERE TO VIEW MY WEBSITE

  • DEMOGRAPHIC FACTS ABOUT MARICOPA COUNTY:
  • The average age of the population is 34 years old.
  • The health cost index score in this area is 102.1. (100 = national average)
  • Here are some of the distributions of commute times for the area: <15 min (22.7%), 15-29 min (36.8%), 30-44 min (25.1%), 45-59 min (8.6%), >60 min (6.8%).

PHOENIX PROJECTED AS NUMBER ONE US HOUSING MARKET FOR 2017

LIST OF ECONOMIC DEVELOPMENT PROJECTS IN PINAL COUNTY, REVISED 2-14-17

Reasons to Consider me for Commercial Referrals – I have the Knowledge and Experience                                                                                                                         

Click here to View My Listings and Profile

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Walter Unger CCIM –  walterunger@ccim.net   – 1-520-975-5207  –  http://walter-unger.com

2016 Official Arizona Visitors Guide

Visit Arizona

Why Phoenix?  This is a very interesting article, you should read it, amazing, there were only 350 K people living in Phoenix in 1950

Timeline of Phoenix, Arizona history

Phoenix, Arizona

Facts of Arizona – year 1848 to 2013

Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.

Walter Unger CCIM

Senior Associate Broker

Kasten Long Commercial Group

5110 N 40th Street, Suite 110

Phoenix , AZ 85018

Office: 602-445-4112

Direct: 602-759-1209

Cell:    520-975-5207

Fax:       602-865-7461

walterunger@ccim.net

www.Walter-Unger.com

www.KLCommercialGroup.com

View All My Listings

What is a CCIM.

Check out my professional profile and connect with me on LinkedIn.

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 Kasten Long Commercial Group tracks all advertised apartment communities, including those advertised by other brokerages.  The interactive map  shows the location of each community (10+ units) and each location is color coded by the size (number of total units). 

 Walter Unger CCIM, CCSS, CCLS

I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years.  If you have any questions about Commercial / Investment Properties in Phoenix or Commercial /  Investment Properties in Arizona,  I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us. 

Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207

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