Source: Rockefeller Group
Rockefeller Group and Investment Property Associates, LLC will develop two new “Liv”-branded Class A apartment communities in the metro-Phoenix area. The projects, located in the Deer Valley submarket of Phoenix and in Goodyear, will total 711 units.
The planned developments follow in the footsteps of Liv Northgate in nearby Gilbert, a 402-unit Class A apartment community completed in 2016 by IPA and Rockefeller Group, as well as five additional Liv communities completed by IPA in Arizona and Michigan.
Liv North Valley, located in Deer Valley at North Valley Parkway and Sonoran Desert Drive, will be a 385-unit community. In Goodyear, the companies will develop a 326-unit community branded as Liv Goodyear, located at W. Virginia Avenue and Pebble Creek Parkway. Both projects will break ground this month and are scheduled for completion in the third and fourth quarters of 2018, respectively. IPA will manage both projects under their proprietary “Liv” brand.
According to Mark Singerman, regional director of Rockefeller Group’s Arizona office, the two companies have long wanted to enter into the Northeast and Southwest Valley markets as the multifamily market has recovered from 2010-2014 lows, and the region continues to benefit from some of the nation’s fastest population growth, according to statistics from the U.S. Census Bureau.
Both Liv communities will be luxury apartment units in two-and three-story buildings. The properties will each maintain an on-site leasing office, high-tech clubhouse, and extensive recreational amenities, such as a 24-7 health and fitness facility, indoor and outdoor community entertainment and recreation, a pool and walking paths. Each apartment will feature nine-foot ceilings, private balconies and storage areas, and will be finished with a premium appliance package, custom cabinets, slab granite kitchen counters, full-size washer and dryer, walk-in closets and ceiling fans.
Rockefeller Group has significantly expanded its residential portfolio of completed projects spanning multifamily apartments and luxury condominiums in select U.S. markets. Including the two new LIV projects, the company’s national residential development pipeline totals more than 1,800 units.
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