By Tudor Scolca
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.
The Osborn Residences will be situated at N. 7th 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.