Home ยป Union @ Roosevelt
(80 Units) – Phoenix, AZ
| Acquired: | November 2019 |
| Project Capitalization (LTV): | $23,000,000 (60%) |
RSRC acquired a two-phase, mixed-use apartment community located in the Roosevelt Row submarket of downtown Phoenix, AZ; the properties are located in a designated Opportunity Zone per the 2017 Tax Reform Act. Phase-I was completed in 2017 and consists of 80 residential units and five commercial spaces totaling 9,100 sf. The average size of the phase-I apartments is 832 square feet. Phase-II will consist of 110 residential units averaging 717 square feet and one commercial space totaling approximately 4,000 sf. The two phases will share an entry/exit ramp to a combined subterranean garage while street level parking will be accessed separately for each phase. Amenities for the property will include an outdoor pool and pool deck on the second-floor roof, clubroom, and fitness center which will be located in phase-II.
- Phoenix