By GTIS Partners
GTIS Partners and Clyde Capital have announced the development of Asante Trails—a $250M mixed-use, master-planned community in Surprise. The project will include a build-to-rent community, retail space and a medical facility and will be built across 90 acres of land acquired by GTIS and Clyde.
In conjunction with the land acquisition, GTIS and Clyde sold 20 acres within the project to HonorHealth to develop the medical facility. Forty-five acres will be allocated to a joint venture between Clyde and SimonCRE to establish a multi-phase retail center. GTIS will retain the 25-acre balance of the site for a build-to-rent development.
GTIS and Clyde initially pursued the property in April 2021 and took the project through rezoning and site planning approval as it secured entitlements. The site is 40 miles from downtown Phoenix, located along North 163rd Avenue and bound by U.S. Highway 60 and Pat Tillman Boulevard. It sits directly across from a 175KSF Fry’s-anchored retail center, is conveniently located to many of the area’s top employers and is about one mile from a Loop 303 interchange.
The GTIS-owned residential parcel at Asante Trails is approved for a build-to-rent community called Tavalo at Asante. Tavalo at Asante will offer 282 single-story homes (duplexes and detached) ranging from one to three bedrooms with a gated entry, on-site leasing center, resident lounge, resort-style pool, dog parks and a central park, all contiguous and walkable to the masterplan’s future neighborhood retail center.
Clyde and SimonCRE’s Phase I of the commercial portion of Asante Trails will consist of a 12-acre retail center at the SWC of Pat Tillman and 163rd Avenue, providing a mix of neighborhood entertainment and services.
The community is the sixth BTR project for GTIS, marking a total of 1,381 units. (Source)
