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Vedura Plans $20M Chandler Elevation Apartment Complex


By Eric Jay Toll for Arizona Builder’s Exchange

Original source: Business Real Estate Weekly of Arizona

Central and Highland Apartments, 266 unit luxury apartments, Midtown Phoenix. Image from City of Phoenix Planned Unit Development Application Z-31-12 Elevation by Todd & Associates

In a second big acquisition in the past two months, Vedura Residential is planning a 163-unit apartment complex at Pecos and Dobson roads, Chandler. The company paid $1.8M ($28.6K/acre) for the 6.2 acre site from Westco Development Group LLC.

With the name Chandler Elevation, the project is being designed by Biltform Architecture. MT Builders has been picked as GC for the $20M project. The company plans one and two bedroom units that will fall into the $875-$1,350 range as mid-priced rentals.

Vedura is also putting up 266 units at Central and Highland avenues, Phoenix, across from Brophy College Preparatory (AZBEX, September 25th). Last winter, the company started construction of a 288 unit complex across the street from the Flagstaff Mall on U.S. 89.

Colliers International handled the Chandler transaction.

Read more in BREW

2 Trackbacks & Pingbacks

  1. Elevation Going Up in Chandler | Arizona Builders Exchange
  2. Elevation Chandler Skeleton to Become 390KSF, 335-Unit, $150M Mixed Use Showcase | Arizona Builders Exchange

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