StreetLights Residential has started construction on its fifth multifamily project in Arizona. The company’s latest development, The Alyssa, is located in Tempe and is expecting its first move-ins for summer 2023 with construction expected to be fully complete in spring 2024.
StreetLights Creative Studio will serve as the project’s architect of record, while also handling the interior design of the community. StreetLights tapped SLR Phoenix Construction LLC as the general contractor for The Alyssa and Norris Design for landscape design.
The Alyssa will offer 335 units in studio, one-, two- and three-bedroom floorplans that average 881 square feet. The community’s design will feature warm color tones, stonework and brass fixtures, while the units will be built with island seating, custom cabinetry and antique brass fixtures. StreetLights will also build an outdoor lounge, coffee lounge, maker’s lounge, mail room, fitness center, pet spa and park, two pools, app-activated parcel lockers and dry-clean lockers within the community.
Greg Nadeau, StreetLights’ senior vice president of development for Arizona and California, said in prepared remarks that The Alyssa was designed to foster engagement and create a sense of community with its many amenities. The community is also located near the interchange between Routes 101 and 202 that connects to the area’s other major cities including Phoenix, Mesa and Scottsdale.
GROWING ARIZONA PORTFOLIO
The Alyssa will mark the fifth project in Arizona, and the second in Tempe, for StreetLights, who has been building up a portfolio in the state since 2019. The company’s first multifamily project in Arizona was The Cameron, a 349-unit community also in Tempe, that opened in 2019 and has since been sold.
StreetLights sold The Angela, a 253-unit community in Phoenix, in October 2020 for $117 million after completing the property that same year. The company also opened The Ryan, its 332-unit community in downtown Phoenix, earlier in 2020.