Subjects: RLE, CXP
Embrey to Begin Construction in Phoenix On New Midtown Multifamily Community
PHOENIX, Sept. 21, 2021 /PRNewswire/ -- Embrey is scheduled to begin construction later this month on Seven Oaks, its newest multifamily community in Phoenix, Arizona.
The company closed September 16 on its real estate purchase for the property site in the Midtown area, a desirable and upscale neighborhood with strong job opportunities, easy access to light rail transportation, significant cultural amenities like the Phoenix Museum of Art, and just 10 minutes from the Sky Harbor International Airport.
The 332-unit community will feature urban-living amenities designed to create comfort and support for today's contemporary lifestyles.
"Embrey's vision is always to create inviting and exciting places where people want to be and our philosophy fits in perfectly in Phoenix's Midtown community," said Jimmy McCloskey, Executive Vice President of Development. "In addition to our unique living spaces that offer lifestyle enhancing experiences, the convenient location in one of the city's most vibrant communities will elevate the residential experience."
This project is financed by the Houston office of BB&T, now Truist.
The five-story multifamily community, adjacent to Monterey Park on 7th Street, will offer unit finishes featuring contemporary kitchens with quartz countertops, stainless steel appliances, and custom cabinetry; bathrooms with soaking tubs and walk-in showers, designer-framed vanity mirrors and high-end fixtures; and, dedicated laundry rooms, linen closets and walk-in closets.
Onsite amenities include a structured parking garage; a clubhouse with a gameroom; a state-of-the-art fitness studio; a business center with micro offices; a landscaped courtyard and a resort-style pool; an outdoor fireplace and grilling area, and a dog park.
First units are expected to be available in the fourth quarter of 2023 with construction completed in the second quarter of 2024.
About Embrey Partners
San Antonio-based Embrey Partners, LLC is a diversified real estate investment company that owns, develops, builds, acquires and manages multifamily and commercial assets in targeted markets across the United States. Since 1974, Embrey has developed more than 44,000 apartments and over 6 million square feet of commercial property. Embrey is a leading developer in the multifamily sector, with more than 6,000 units under construction or in development. www.embreydc.com
SOURCE Embrey
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