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July 25, 2017
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Transwestern Development Co and Allstate Teaming Up to Build 345-Unit Res Community in Phoenix

2/15/17

Transwestern Development Co and Allstate acquired a 3.2-acre site in Phoenix, where they plan to develop a 345-unit multifamily community. The project, tentatively called City Center on the Park, is scheduled to break ground in March 2017 with the first units expected to deliver in the summer of 2018.

Located at 1314 N. Third St, City Center on the Park will also include 4k sf of retail and restaurant space and is within walking distance of numerous restaurants, bars and entertainment. The site is two blocks from the light rail, offering direct access to Phoenix Sky Harbor International Airport, and provides proximity to Interstate 10, State Route 51, Loop 202 and Central Avenue.

The community will consist of studios and one- and two-bedroom units, and it will have two resort-style pools, fitness center with on-site trainers and free classes, rooftop deck, professional cooking kitchen with cooking classes, and multipurpose common areas. The project will include a covered parking garage with 475 spaces and an additional 50 surface spaces.

During the past five years, downtown Phoenix has undergone a significant transformation, with more than $4 bil invested in office space, retail, restaurants, educational facilities, convention space and hotels. Growth is being spurred by an influx of millennials and the expansion of the Phoenix Biomedical Campus, which draws thousands of undergraduate and graduate programs to the area. Recent improvements to the Metro Light Rail have also increased residential demand for living in downtown Phoenix.





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