Toll Brothers/Canyon Partners Team Up on Mesa Apartment Project

It’s the fourth go-around for Toll Brothers Apartment Living and Canyon Partners Real Estate, this time in Mesa. The 400-unit project, Navona, is expected in the fall of 2024. Project financing includes a $78 million construction loan from Bank OZK; both equity and debt were arranged in-house.

Upon delivery, Navona will encompass 12 two- and three-story buildings spread across 19.2 acres. The upscale units will comprise one-, two- and three-bedroom floorplans.

Common-area amenities are set to include a clubhouse, pickleball courts, a swimming pool, as well as an expansive outdoor space. More than 800 parking spaces will be created.

Navona will take shape at 10141 E. Williams Field Road within the Avalon Crossing master-planned community, east of the Legacy Sports Complex. Employers in the market include Intel, Meta, Amazon and Apple.

Currently, Toll Brothers owns two completed projects in the market, with four others in different stages of development.