PB Bell Starts Work on Phoenix-Area Apartments

Multifamily specialist P.B. Bell Cos., has begun construction on Velaire at Aspera, an apartment property within the Aspera mixed-use development in Glendale, Ariz., a suburb of Phoenix.

Glendale, Ariz.—Multifamily specialist P.B. Bell Cos., has begun construction on Velaire at Aspera, an apartment property within the Aspera mixed-use development in Glendale, Ariz., a suburb of Phoenix. Located at 75th Avenue and the Agua Fria Loop 101 Freeway, Velaire at Aspera will offer 286 units in a resort-like setting.

Velaire at Aspera, which is on a nearly 13-acre site with two lakes on either side, occupies most of the northern portion of the Aspera development’s 75 acres. The larger development will also support retail, healthcare and assisted living components.

Common amenities include an electric-car charging station, an agility dog park and a fitness facility with TRX equipment, in addition to other recreational opportunities. The apartment complex will neighbor Banner Healthcare offices, a senior living property, and Treasure House, a residential facility for young adults with intellectual and developmental disabilities co-founded by former Arizona Cardinal Kurt Warner and his wife, Brenda.

P.B. Bell will also oversee construction and long-term management of Velaire at Aspera after the property opens in early 2017.  MT Builders Inc., which is owned by Philip Bell and Mike Tarver, will serve as the general contractor on the project.

The company is no stranger to the Phoenix market. Recently it acquired The Boulevard, a 294-unit apartment property in north Phoenix from Colorado-based Slavin Residential for $33.5 million.