Work Underway on CA Ventures’ Phoenix Community
- Oct 27, 2017
CA Ventures’ multifamily investment and development arm CA Residential, in a joint venture with Diamond Realty Investments Inc., has broken ground on the first phase of The LINK PHX in downtown Phoenix. Situated at 702 N. 3rd Street in downtown Phoenix, the first of three phases in the development is a 30-story mixed-use structure that will feature 257 apartments and 7,000 square feet of retail space, half of which will be reserved for start-ups, not-for-profit enterprises and artists.
Over the next 15 years and all three phases, The LINK PHX will bring more than 600 residences and 21,000 square feet of retail space to the legendary Roosevelt Row Arts District in downtown Phoenix. The LINK PHX will offer a blend of studio, one-bedroom, one-bath and two-bedroom, two-bath apartment homes. Those residences will extend in size from 450 to 1,450 square feet.
Influx of students
“Roosevelt Row is a fast-growing community with a vibrant arts scene, and demand for workforce housing in this area will only continue to grow with all that the city of Phoenix is doing to promote conscious planning around sustainable, walkable, and transit-oriented infill development,” said JJ Smith, CA Ventures principal. “The LINK PHX will address the demand for rental residences that has been fueled by the influx of students to downtown Phoenix as public and private investment and infrastructure projects like the Valley Metro light rail system continue to bring a new generation of young professionals to the area.”
Added Mark Stinger, Diamond Realty Investments’ managing director of residential investments, “We’re excited to work with CA Ventures on this market-defining project. We believe The LINK PHX will set a new standard for rental living in downtown Phoenix.”
To be built on a 1.3-acre unoccupied parcel at the northeast corner of 3rd and Pierce Streets, the Shepley-Bulfinch-designed residential tower will rise just steps from the Broadway/Central Valley Metro light rail station. From that station, passengers will easily travel to the downtown and midtown business districts and the Central Avenue Corridor.
Each residential unit will offer nine-foot-high ceilings, kitchens with contemporary cabinetry, quartz countertops and stainless-steel appliances, and in-unit washers and dryers. The floor-to-ceiling windows will allow for expansive views from each residence.
The 22,000 square feet of amenity space at The LINK PHX will feature a rooftop deck with outdoor pool, spa, grilling area, fire pit and ample seating. A 2,000-square-foot fitness center with rooftop access and a club room with a large test kitchen and many seating options will also be included. Also featured will be a business center with conference space, media and gaming rooms and an outdoor dog run.
“We designed the building to maximize the incredible mountain and valley views that exist at this height,” said Joseph Herzog, principal at Shepley Bulfinch. “The building will also be a landmark for the city skyline, and we are utilizing form and materials that will present a modern, forward-looking vision for downtown Phoenix.”