Developer, builder and property manager MORGAN has taken the wraps off its first multifamily luxury community in Phoenix. Developed in conjunction with Mesirow, the Pearl Biltmore is a 472-unit development at Highland and 24th Streets.
The community features 19 unique floorplans, extending from studio to one- through three-bedroom configurations, and from 476 to 1,154 square feet in size.
Features and finishes of apartment homes include Quartzite countertops and glass tile backsplashes, with select units offering movable kitchen islands, walk-in glass showers and spa soaking tubs. A two-story fitness center with a cardio and strength training area stands out as one of the amenities most likely to be popular with residents.
Pearl Biltmore is situated on a 5-acre property in the Biltmore District of Phoenix, one of the most desired submarkets in one of the nation’s strongest multifamily markets. It is encircled by 7.4 million square feet of Class A office space, medical office buildings, resorts and large numbers of shopping and restaurant venues. Among the nearby retail centers is Biltmore Fashion Park, a luxury outdoor retail and restaurant plaza featuring more than 610,000 square feet of retail floor area. Upscale stores include such names as Ralph Lauren, Saks Fifth Avenue, Sephora, Arthaus and lululemon athletica.
In addition, with proximity to 51 Piestewa and the Camelback Corridor, Pearl Biltmore provides residents with convenient access to much of the Valley of the Sun. Phoenix College, the University of Arizona and Arizona State University are all reached in 11 to 12 minutes. Several opportunities for outdoor recreation are located nearby as well. They include Tonto National Forest, Steele Indian School Park and Desert Storm Park, all situated a five- to eight-minute drive from the apartment community. Earlier this month, Phoenix was cited as one of the markets showing greatest Q4 rent growth.