High Street, MetLife Break Ground in Phoenix

By Tudor Scolca

Rendering of the upcoming Osborn Residences

High Street Residential—Trammell Crow Co.’s subsidiary—together with MetLife Investment Management have broken ground on The Osborn Residences, a five-story community located in Midtown Phoenix.

The property will comprise a total of 190 Class A units, ranging in size from 583 to 1,358 square feet. The Osborn Residences will feature an amenity package, which includes a lobby equipped with a coffee bar, interactive lounge space, a clubroom and gaming area, as well as outdoor features such as a swimming pool, shaded lounge areas, firepits with kitchen and grill stations, hammocks and a yoga lawn.

Location benefits

The Osborn Residences will be situated at N. 7^th Ave. and Osborn Road. Several shopping and dining destinations are within walking distance, including the Osborn Marketplace, a 45,000-square-foot retail center anchored by Sprouts Farmers Market. Nearby public transit options include the Osborn/Central Avenue light rail station.

Employers are within easy reach, such as Dignity Health St. Joseph’s Hospital & Medical Center, which has about 7,000 employees. As evidenced by the latest Yardi Matrix report, Phoenix’s technology sector also proves to be a lucrative avenue, with some companies expected to create thousands of new jobs in the near future.

“Midtown and downtown submarkets are home to Phoenix’s most diverse population and as a result, the project is designed and amenitized with the goal of appealing to a wide range of potential renters,” said Paul Tuchin, senior vice president at High Street Residential’s Phoenix business unit, in a prepared statement.

The MetLife-High Street Residential partnership hired Chasse Building Team as the project’s general contractor, ESG Architects as the architect, while Kimley Horn and Meyer/Borgman/Johnson will provide civil, landscaping and structural engineering services. First move-ins are expected in August 2019.

Image courtesy of TrammellCrow Co.