Projects
What we have built, converted and bought.
Ground-up development, adaptive reuse, single-family construction and value-add acquisition, concentrated in metropolitan Phoenix. Detailed financial information on any project is available on request.
Ground-up multifamily · Delivered 2026
Row 31
A four‑unit apartment building on 0.81 acres in the Garfield District of Phoenix, brought to market as a site for 24 units. We entitled and delivered 31 on the same parcel.
The community sits in the urban core east of downtown Phoenix, walking distance to the Roosevelt Row arts district and minutes from the ASU downtown campus, the Phoenix Biomedical Campus and the downtown employment base. Studios, one bedrooms and two bedrooms, with in‑suite laundry, quartz counters and a low operating cost management model.
- Location
- Phoenix, Arizona
- Units
- 31
- Rentable area
- ±21,700 SF
- Delivered
- 2026
- Strategy
- Ground-up development
Adaptive reuse · Delivered 2023
Youngtown Flats
An office building that sat on the market for years while buyers kept pricing it as office. We saw housing.
Forty‑four apartments were created inside the existing shell and sixty more were built new alongside it, for 104 homes on a single site. Combined hard and soft construction cost came in at roughly $152 per square foot. The community reached 97% occupancy within a year of completion.
- Location
- Youngtown, Arizona
- Units
- 104
- Conversion
- 44 units
- New construction
- 60 units
- Completed
- Fall 2023
- Strategy
- Adaptive reuse
Ground-up multifamily · Permitted
320 E Hatcher
A four‑parcel land assemblage on Hatcher Road in north central Phoenix, approved for 20 units when we took it on.
Parking was the binding constraint on yield. We reworked the design around it and permitted 26 units on the same footprint, in a three‑story building with ground‑level garages. Plans are approved with the City of Phoenix.
- Location
- Phoenix, Arizona
- Units
- 26
- Stories
- 3
- Status
- Permitted
- Strategy
- Ground-up development
Single-family development · Delivered 2025
6736 E 1st Avenue
A dated single‑story ranch on an infill lot in Old Town Scottsdale, replaced with a new four bedroom, four bath home of roughly 2,500 square feet.
The value here was the address. Old Town Scottsdale is one of the most desirable and least available infill locations in the metro, and the lot carried a house that no longer matched what the street had become.
Single level, a twelve foot sliding glass wall to the rear patio, and a specification built around energy performance rather than square footage. Smaller in scale than our multifamily work, and a useful discipline in how a finished product actually gets valued.
- Location
- Scottsdale, Arizona
- Type
- Single-family, new construction
- Size
- ±2,492 SF
- Bedrooms
- 4
- Delivered
- 2025
- Strategy
- Single-family development
Ground-up multifamily · In entitlement
Inca Peak
A 150‑unit community on raw land in Rio Rancho, New Mexico, in joint venture with an established regional developer.
The site sits in a submarket with effectively no competing multifamily supply and roughly 1,100 approved single‑family homes within a few blocks, alongside a road expansion that will put the site minutes from the city center. Currently in entitlement.
- Location
- Rio Rancho, New Mexico
- Units
- 150
- Status
- In entitlement
- Structure
- Joint venture
- Strategy
- Ground-up development
Full cycle
Value-add, bought and sold
East 3434 and Midtown on Seneca are shown here in detail, but they are two of several investments taken from purchase through business plan to disposition. Both were operational plays rather than construction projects, and both illustrate how we look at an asset the seller had stopped working.
Value-add acquisition · Full cycle
East 3434
A 128‑unit community in Phoenix, acquired under the name La Casa. The property was run by a management company built for much smaller assets, marketed to a single demographic, and had gone years without meaningful rent increases in a submarket that had moved well past it.
We replaced the manager with a professional third‑party firm, rebranded the property, and put roughly $1.4 million into the asset. Interior renovations ran about $11,000 a unit. We added a BBQ area, a dog run and a renovated leasing office, resurfaced the pool, fixed deferred maintenance across the roof and HVAC, added RUBS, and installed low‑flow fixtures to bring down water and electric. Rents moved from $757 and $900 toward $1,025 and $1,200 plus utility billback, and the expense ratio came down from 47 percent.
- Location
- Phoenix, Arizona
- Units
- 128
- Hold period
- Approximately 18 months
- Capital improvements
- ~$1.4 million
- Status
- Sold
- Strategy
- Value-add acquisition
Value-add acquisition · Full cycle
Midtown on Seneca
A 176‑unit townhome‑style community in Tucson, acquired as Bella Vista. The seller carried a prepayment penalty of roughly $1.8 million, which made a conventional sale impossible for them. We assumed the existing loan instead, and the price came down from $14.65 million to $13.6 million as a result. Our basis went from about $84,000 a unit to roughly $77,000.
The business plan was operational rather than structural. A new management team, light unit updates at about $2,850 a unit rather than full renovations, repiping the chiller system and replacing the cooling towers to cut electric costs, reducing landscaping and water use, and adding 90 covered parking stalls in a market where covered parking is scarce and in demand. Payroll came down from the $255,000 to $290,000 range toward a budget of roughly $189,000, with faster unit turns making the smaller team workable.
- Location
- Tucson, Arizona
- Units
- 176
- Hold period
- Approximately 20 months
- Basis at acquisition
- ~$77,000 per unit
- Status
- Sold
- Strategy
- Value-add acquisition
Prior investments
Acquisition and operations
In total we have acquired and operated roughly 1,500 apartment units across Arizona since 2017, including assets held with prior partnerships, spanning value‑add repositioning, adaptive reuse and new construction. That portfolio is where the operating discipline described on this site was built. A complete schedule of prior investments, and detail on any individual deal, is available on request.
Bring us a site or a situation.
We are actively reviewing development land, conversion candidates and multifamily communities across the Phoenix metropolitan area. If you are a broker, lender, receiver or owner, reach out directly.