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Watt Buys Into 32nd Street Revitalization

Rendering courtesy of Watt Communities of Arizona

By Roland Murphy for Arizona Builder’s Exchange

Watt Communities of Arizona has announced it has purchased the nearly four-acre View 32 project on 32nd Street north of Shea Boulevard for $2.5M.

Originally proposed and planned by Principal Asset Management for approximately 147 multifamily units the live/work/play-focused project is now slated for 135 units (AZBEX, March 17).

View 32 is the first urban apartment project in the North 32nd Street Revitalization Corridor in decades and Wyatt AZ’s first for-rent property.

The company currently has five for-sale projects in its pipeline and portfolio. Its upscale communities range from townhomes to detached single-family units.

View 32 Part of Broader Revitalization Effort

View 32 has garnered significant interest and coverage due to its location in the corridor. Before State Route 51 was created, North 32nd Street was a major north-south travel zone in the area, but the corridor has since fallen into disuse and blight, with vacancies and disrepair becoming common features.

Planned rejuvenation efforts in the area include a High Capacity Transit expansion, road improvements and sidewalk widening (AZBEX, Aug. 4). Bicycle lanes on 32nd Street have recently been completed.

Branding signs and artwork to reinforce the area’s visual identity are also planned by the Phoenix Art and Culture Public Art Program.

According to Watt AZ’s purchase announcement, the revitalization goals for the area target improving both the quantity and types of area businesses, improving retail sales and upgrading amenities for area residents.

“View 32 brings the added benefit of contributing to the North 32nd Street Corridor revitalization effort,” said Paul Timm, Chief Operations Officer for Watt Communities of Arizona. “Looking back into city centers to identify the highest and best use of land sites is at the heart of the urban lifestyle. It’s a unique and welcome opportunity.”

View 32 is Wyatt AZ’s second infill residential project in the corridor, following The Enclave at 32nd Street near 32nd and Cactus. With the addition of View 32, the company’s portfolio has a construction value of more than $45M.

Upscale Gated Community

Under the originally submitted plans approved by the Phoenix City Council in July, View 32 is planned as a gated community with amenities to include a pool and courtyard areas, spa, clubhouse, barbeque and fire pit areas, dog park, fitness and business centers.

Plans for the development’s landscaping and visual aesthetics focused on integration with the surrounding area, particularly the nearby Phoenix Mountain Preserve.

Wyatt Communities of Arizona is the project owner/developer. No contractor, architectural or engineering providers have been named.

Construction is targeted to begin in the spring with completion planned for Q2 2017.

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