Fort Washington, PA-based Toll Brothers, Inc. formed a JV with Chicago-based Harrison Street to develop Canvas, a 263-unit, 826-bed luxury student housing community in Tempe. The 3.37-acre site is near ASU’s campus and surrounded by restaurants, bars, coffee shops, retail and entertainment options.
Amenities include a state-of-the-art fitness center, clubroom with an Esports lounge, rooftop pool and amenity deck, business center, café/lounge space, ground floor retail, courtyard and fire pit, grilling stations, electronic parcel lockers, private study rooms and bike storage. The community will include a six-level 469-space parking garage.
Unit amenities will include a modern furniture package, quartz countertops, private bedroom door locks, walk-in closets, computer-controlled access, smart television, central air conditioning, private bedrooms and bathrooms and in-unit washers/dryers.
The JV secured a construction loan facility from MidFirst Bank, as administrative agent, Fifth Third Bank, National Association, and Trustmark Bank. First resident move-ins are slated for fall 2021.
Dennis Kaiser is Vice President of Content and Public Relations for
Connect Commercial Real Estate. Dennis is a communications
leader with more than 30 years of experience.
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