Expedition Capital Advisors LLC

EXPEDITION INVESTS IN BLOCK 23 MULTIFAMILY DEVELOPMENT IN PHOENIX, ARIZONA

August 30, 2017 | PHOENIX, AZ - Block 23 is a 332-unit, 19-story multifamily development project in heart of downtown Phoenix.

The entire project is bounded by 2nd Street to the east, Washington Street to the north, Jefferson Street to the south and 1st Street to the east. The project is part of a 584,000 square foot mixed-use development that includes 281,000 square feet of commercial uses, including office (203,000 sf), retail (18,000 sf) and grocery (60,000sf). The site is adjacent to the 1.2 million square foot CityScape mixed use office, hotel, retail and residential project, and across the street from the Talking Stick Resort Arena –home to the Phoenix Suns and multiple other sporting events and concerts. The third party walkability score on the project is  above a 96 given the location and adjacency to the grocery store.  There are two Phoenix Metro light rail stations within two minute walk of the project.

The project will be high-rise construction using reinforced concrete with brick and stone exterior. The below grade structured residential parking garage will have a gated entry. Community amenities include typical high-end fitness center, conference room, dining room, cyber lounge, interior courtyard with pool, controlled building access and wifi connectivity. Interiors will feature 10’ ceilings with 8’ doors. Gourmet kitchens with wood cabinets, wood floors and luxury finishes will be used. This includes hard surface floorings in kitchen and living area,  stainless appliances, washer/dryers, media connections with speakers, ceiling fans, bedroom closets with built-in shelving and showers with frameless enclosures.

StreetLights Residential is developing the multifamily portion of Block 23, while Phoenix-based Red Development is developing the remainder.

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