P.B. Bell Lakeside Community Opens in Suburban Phoenix
The multifamily developer opened Velaire at Aspera, a walkable lakeside addition to its portfolio, and its third new community since September 2015.
By Jeffrey Steele
Phoenix–Multifamily housing developer and manager P.B. Bell has unveiled Velaire at Aspera in the Phoenix suburb of Glendale, Ariz., marking the company’s third luxury community opening since late September of last year. P.B. Bell started construction on the community in April 2015.
Situated at 75th Avenue and the Agua Fria Loop 101 Freeway, Velaire at Aspera is a 286-unit luxury apartment community within the highly anticipated Aspera mixed-use development in Glendale. Luxury amenities at the property include a pool and outdoor entertainment pavilion, 2,000-square-foot fitness facility, theater, dog agility park and dog salon. Recreational and sports opportunities are nearby.
“It was a good development opportunity due to the strong demographics in Arrowhead Ranch, excellent employment and services in the area and overall a good quality of life in that submarket,” Mike Trueman, P.B. Bell’s vice president of development, told MHN.
Velaire at Aspera offers one-, two- and three-bedroom floor plans ranging from 726 to 1,281 square feet. It spreads across a nearly 13-acre site that consumes most of the northern portion of the Aspera community’s 75 acres. The property is cocooned on either side by twin lakes, and is adjacent to restaurants and shops, the offices of Banner Healthcare, a senior-living community and a location of Mountainside Fitness.
Also nearby is Treasure House, a first-of-its-kind residential facility for young adults with intellectual and developmental disabilities. Treasure House was co-founded by legendary Arizona Cardinal quarterback Kurt Warner and his wife, Brenda.
“The pluses were simple: a great submarket that has been underserved for many years; being part of a larger 75-acre mixed-use development; the supporting uses—retail, restaurant and office— and a land owner willing and able to fund all the infrastructure,” Trueman said.
Minuses? “Due to the larger mixed-use opportunity, it took longer than originally anticipated to get through the entitlements and under construction,” he added
Residents of Velaire at Aspera will be able to walk to a nearby retail center populated by neighborhood eateries, fitness clubs and financial institutions.
“We’re thrilled to be part of such a diverse and thriving mixed-use community such as Aspera,” said Mike Trueman, P.B. Bell’s vice president of development. “Velaire brings P.B. Bell’s distinctive, luxurious standard of multifamily living to the West Valley in a way that complements its surroundings.”
P.B. Bell CEO R. Chapin Bell noted his company’s flurry of development activity is reflective of a multifamily housing market attempting to stay ahead of the needs of the Boomer and Millennial generational groups. These impactful consumer groups seek upscale, carefree living environments in prime locations across the Valley of the Sun.
“Positive job and population growth are expected to keep the momentum going through the remainder of the year,” Bell noted.
In addition to launching Velaire at Aspera, P.B. Bell unveiled The View at Cascade in Scottsdale last September, and duplicated that effort with the opening of Escape in Phoenix three months ago. The trio of communities has added more than 700 new luxury apartment homes to the Phoenix metro area during the course of an eight-month span. P.B. Bell manages more than 9,000 apartment homes, and has developed almost 6,000 apartment units across 27 communities.
Images via velaireataspera.com