ARANCIA
2626 NORTH 52nd STREET, PHOENIX, AZ 85008
Investment Details
Acquisition Date
November 24th 2021
Unit Mix
All 3 Bedroom, 3.5 Bathroom
Units
29 Units
Propety Type
Townhomes
Projected Project Completion
24 Months
Projected IRR
182%
Deal Structure
75% loan to cost 25% equity
Exit Strategy
Build to Sell/Rent
Projected Hold
36 Months
Cash on Cash Return
74.9%
Property Description
- 29 Townhomes, New Construction Three Story Condominium Development of 2.0 Gross Acres.
- All 3-Bed / 3.5-Bath Units
- The proposed three (3) story buildings provide for a mix of materials, shading elements, roof undulation, building massing guidelines, and colors to “break up” the appearance of the buildings.
- Elevations provide windows/balconies that capture views of Camelback Mountain and Papago Park while also working to maintain view corridors for adjacent properties through enhanced building setbacks along the west and south property lines.
- The current market demand is for garages and as such the proposed buildings include 2-car garages “tucked-under” each of the 30-units, which increases the building height.
- Building’s design concepts incorporate pedestrian scale details/materials that make for a more tactile and pleasant social/human connection along the ground plane.
- Patios and landscaping will also enhance the pedestrian experience particularly within the interior central open space/amenity area and along 52nd Street.
- Building has a visually interesting and tactile design that incorporates some of the key objectives outlined in the City’s Guidelines for Design Review and Zoning Ordinance requirements and better connectivity to the expanding urban fabric.
