Phoenix & Southwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
NFL Team Owner Building 504-Unit N. Phoenix Apartment Project
Garden Communities plans to develop a 504-unit apartment community near Desert Ridge Marketplace in north Phoenix. The Phoenix Business Journal reports the Wilf family, owner of the Minnesota Vikings football team, owns the property. The property is adjacent to Vestar Development Co.’s 1.2 million-square-foot Desert Ridge Marketplace and JW Marriott Phoenix Desert Ridge Resort and Spa.
The company bought the land at a state land auction. Garden Communities paid $44 million for the 41-acre parcel in 2022.
The north side of Phoenix has seen explosive growth, thanks to projects like the Mayo Clinic and the soon to open TSCM plant, which has spawned enormous development activity. The $65 billion chip factory is expected to open next year.
- ◦Development
