Wood Partners Opens Phoenix Luxury Community
Alta Cooley Station is the latest in a line of luxury and market-rate projects rolled out by the sponsor.
Wood Partners has officially opened Alta Cooley Station, a seven-building, 248-unit luxury apartment community located at 2550 S Recker Rd. in Gilbert, Ariz.
The property is the latest in the developer’s Alta brand of luxury and market-rate apartment communities, which are located in some of the nation’s largest multifamily markets. Wood Residential, the firm’s property management subsidiary, will oversee the community’s operations.
Alta Cooley Station, in depth
Construction on Alta Cooley Station began in 2021, and is subject to a $29 million loan provided by Texas Capital Bank, according to Yardi Matrix information. The community, built on 6 acres in Maricopa County, is divided into studio, one-, two-, and three-bedroom apartments, in addition to one- and two-bedroom townhomes, the same source shows. Unit sizes range between 575 and 1,577 square feet, and rents range from $1,580 to $3,043. Inside, the homes feature stainless steel appliances, quartz countertops with tile backsplashes, plank flooring, walk-in closets, in-house laundry machines and Dormakaba keyless entry systems. Additionally, the townhomes feature attached garages.
Across the community, residents have access to a swimming pool with a jacuzzi, fitness center, outdoor sports courts and game areas, as well as a clubhouse, library, lounge, coffee bar and business center.
Located in one of the Phoenix metro’s most affluent suburbs, the community is within walking distance of Verde at Cooley Station, a recently-completed mixed-use community that includes office, retail and dining space, and within two miles of SanTan Village, a 1.2 million-square-foot commercial district. An entry point to the Phoenix Loop 202 is two miles west of the property, giving the community quick highway access and accessibility to much of metro Phoenix, with the city center located 23 miles away.
The brand expands
Alta Cooley Station is the latest Alta property to open, following several others in the Mid-Atlantic and on the West Coast. In January, the firm opened Alta 801, a 327-unit luxury community in Washington, D.C. One month earlier, the developer opened Alta Star Harbor, a five-story, 372-unit adaptive reuse community in the Bay Area.