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5/13/25
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A new, upscale 261-unit res project in Gilbert, AZ is one step closer to completion as the developer, Artom Holdings LLC, secured a $58 mil construction loan from PCCP LLC for the Class A development. The 220.6k sf project, The Parker on Higley, will sit on 8.36 acres at the northeast corner of Baseline Rd and Higley Rd in the Phoenix metropolitan area.
The property’s location offers residents exceptional connectivity to major arteries, including US-60, Loop-202 and Loop-101 freeways, facilitating easy access throughout the region. The community's proximity to both Phoenix Mesa Gateway Airport and Phoenix Sky Harbor International Airport, coupled with nearby retail opportunities, ensures that residents have convenient access to both local amenities and global connections.
The Parker on Higley will provide a diverse range of living options, including studios, one-, two- and three-bedroom units, with an average unit size of 845 sf, catering to various lifestyle needs. Residents will enjoy luxurious community amenities, such as a resort-style pool and a state-of-the-art fitness center. The development also addresses parking needs comprehensively, featuring 400 covered surface parking spaces and 68 private garages.
Brad Miner and Drew Lydon with JLL Capital Markets arranged the new financing. The project is estimated to be completed in Q4 2026.
Gilbert, a thriving suburb of Phoenix, has experienced steady growth with a 1.5% annual population increase since 2020, contributing to the Phoenix metropolitan area's impressive 5.41 million residents. The town boasts a high average household income of $154,441, reflecting its affluent status within the region. As part of the greater Phoenix area, which claims the third-largest labor pool in the western United States with over 2.3 million jobs, Gilbert benefits from Arizona's business-friendly environment, including the nation's lowest flat tax rate.
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