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Hines Secures Financing, Launches North Phoenix MF Development
Houston-based Hines closed financing with Alliance Bank of Arizona and is set to begin construction on a new luxury multifamily project in north Phoenix. The 325-unit development is located at the northwest corner of Happy Valley Road and 35th Avenue.
The 11-acre parcel is part of a larger commercial development by Phoenix-based Pederson Group, including the adjacent 167,000-square-foot Stetson Village shopping center, as well as a planned retail development on seven acres fronting Hines’ project.
Hines’ Robert Trujillo says, “This is an exceptional location in a growing area with a broad base of amenities, and the project being built by Pederson Group adjacent to our development will provide residents of the new community with a great retail mix.”
The multifamily project will offer a mix of one-, two- and three-bedroom apartment homes. The community will consist of six three-story buildings and an additional one-story building, which will include a clubhouse and fitness amenity center that surrounds an outdoor pool.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Development

