By Sanjana Garg for Phoenix Business Journal
Sparrow Partners has started construction on a 193-unit active-adult community in downtown Surprise, called Mera City Center.
The company also plans to begin work on three more active-adult communities in the Phoenix area and will invest approximately $150M across all four deals.
The second development, Mera Goodyear, will be a 188-unit community next to the planned 36-acre Centerscape mixed-use project. Construction is expected to begin in March.
The Mera City Center project in Surprise is part of the master-planned Surprise City Center project. That project and Mera Goodyear are scheduled to open in 2021.
A third development will be in the Glendale area with construction projected to start in late spring or early summer of this year. Work on the fourth Valley development in Mesa is expected to begin in late summer or early fall.
Each community will have resort-style amenities. The one- and two-bedroom apartments will range from 660-1,450SF.
Read more at Phoenix Business Journal.
NEWS TICKER
- [April 26, 2024] - Globe Council Advances City’s First Mixed-use Development
- [April 26, 2024] - Tucson High-rise Slated for Auction, Possible Conversion
- [April 26, 2024] - New Law May Aid Commercial Building Conversions
- [April 26, 2024] - ABC Opposes New Overtime Rule
- [April 26, 2024] - Arizona Projects 04-26-24
- [April 24, 2024] - Affordable Apartments Planned Near Maricopa City Hall
- [April 23, 2024] - Phoenix Adds Another Downtown RFP to the Redevelopment Mix
- [April 23, 2024] - Tempe Considering Bond Request, Budget Planning