Home Real Estate Toll Brothers Helming 456-Unit N. Phoenix Apartment Development
Real Estate

Toll Brothers Helming 456-Unit N. Phoenix Apartment Development


Toll Brothers Apartment Living is teaming up with Willton Investment Management on the development of Lumara, a 456-unit luxury community in Phoenix. Multihousingnews.com reports financing for the project includes an $86 million construction loan from Santander Bank N.A. The equity and debt were arranged in-house.

The development team includes Biltform Architecture Group, landscape architect Collaborative V Design Studio Inc. and civil engineer Hubbard Engineering. Lumara is set to come online in early 2025.

Common-area amenities at the 13.5-acre, four-story property will include a swimming pool, rooftop terrace, virtual sport simulator, business conference room, along with 700 parking spaces and EV charging stations.

The property will rise at 25255 N. 19th Ave. in the Deer Valley submarket, not far from the multi-billion Taiwan Semiconductor plant.

Toll Brothers currently owns two completed multifamily assets in the market and four others in various stages of development, Yardi Matrix shows. When completed, the communities will encompass over 2,150 units.



Source link

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Real Estate

Memphis Dermon Building Converting to 150-Room Hotel

The Dermon Building in Memphis was built 99 years ago, designed as...

Real Estate

Developer Duo Secures $120M Refi for Charleston Harbor Rental Community

Woodfield Investments and Argosy Real Estate Partners have secured $120 million to...

Real Estate

Bonita Springs Site for 252-Unit Apartment Community

Madison Communities and Heitman have closed a $44 million construction loan for...

Real Estate

$21.5M Loan for Tacoma Apartments Secured by Berkadia

Berkadia has secured financing for the acquisition of The Duo Apartments, a...