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June 15, 2024
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MC Companies to Build 156-Unit Res Project in the Tucson Area


MC Companies plans to develop a $39.6 mil, 156-unit Class A multifamily development in the suburbs immediately north of Tucson, AZ, where renter demand continues to outstrip supply. The community, called Arroyo Verde, will be the first for a new joint venture between MC Companies and a global institutional investor, established to bolster the development growth of both companies across Arizona.

Located on more than nine acres at the northeast corner of La Cholla Blvd and Old Magee Rd, Arroyo Verde will offer seven luxury floorplans ranging from 764 sf to 1.4k sf, with studio, one-, two- and three-bedroom configurations.

Amenities at Arroyo Verde will include a resort-style pool with cabanas and barbeque stations, a resident gathering room, resident clubhouse, and high-end fitness center. Individual units will feature granite countertops, black appliance packages, modern flooring, fiber optic cable and internet service and contemporary open designs with high ceilings and walk-in closets.

Construction on Arroyo Verde began this month and is expected to complete by fourth quarter 2023. The project general contractor is Clark Wayland. The project architect is Dean Alan Architects. Leasing and management at Arroyo Verde is being handled by MC Residential Communities LLC, an MC Companies affiliate.

Founded in 2001 by Ken McElroy and Ross McCallister, MC Companies develops, acquires, renovates and manages multifamily property in select U.S. growth markets. The firmís portfolio currently totals approximately 7,000 units that are more than 96% leased and are located in western U.S. markets such as Houston, Dallas, San Antonio, Phoenix, Tucson, Flagstaff and Tulsa.

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