The skyline in Downtown Phoenix got a little less sparse last week with the topping off of the two-building apartment complex, now dubbed Roosevelt Point. The plot of land, stretching along Roosevelt Street between 3rd and 4th streets, will finally be occupied after years of sitting empty in the center of a burgeoning arts district.
General contractor Hardison/Downey Construction and concrete subcontractor Suntec Concrete, both Phoenix, worked diligently to get the buildings to their final height prior to the topping off ceremony, pouring a total of 15,995 cubic yards of structural concrete so far, says Stephen Shaw, senior project manager with Hardison/Downey.
The project’s seven-story north building and eight-story south building will be separated by a courtyard and pool deck. Another 5,786 cubic yards will come later, once Phoenix-based precast concrete subcontractor Tpac begins construction on the site’s parking garage. A total of 1,368 tons of rebar reinforcement and a foundation comprised of 186 caissons will help support the apartment buildings and garage.
Scottsdale, Ariz.-based developer Concord Eastridge and majority owner EdR of Memphis, Tenn., also announced the opening of a leasing office for the project’s 326 apartments, which are being marketed towards students and graduates of the nearby downtown campus of Arizona State University and the Phoenix Biomedical Campus. Young urban professionals are also being targeted as potential residents, mainly for the north building, while the south building will be reserved more for students, says Steve Schnoor, senior vice president with EdR.
Units range in size from studio apartments up to four-bedrooms, with the majority being fully furnished. Monthly rents, which will include all utilities and high-speed internet, will range from $709 to $979 per person.
Granite counter tops and stainless steel appliances give the units a higher end appeal. In addition to the pool and courtyard, amenities include common areas, business center, game room, clubhouse and fitness facilities. Storefront space totaling 7,500 sq ft will provide for future retail stores, galleries or restaurants.
Schnoor says the project was a great opportunity to capitalize on the expanding downtown university campus and the growing biomedical center, adding that residential communities in downtown Phoenix support higher occupancy rates and rents than in other areas of the city.
Designed by the Tempe, Ariz. office of Ayers Saint Gross, the $52-million project is on track for a July 2013 completion.
Randy Churchey, president and CEO of EdR, says that while there were initially some concerns in the surrounding community about having a big student housing development move in, the project team has strived to be a good neighbor and deliver a finished product that blends well with the vibrant neighborhood.
That sentiment has raised the bar for the construction team, who have had to be flexible with scheduling around events along Roosevelt Street such as First Fridays, or performing night concrete pours as judiciously as possible so as not to disturb nearby residents, Shaw says.
John Chan, City of Phoenix community and economic development director, was also on hand to recognize the progress being made on the project so far, and to reiterate that the city still plans on breaking ground with the University of Arizona on the planned $135-million Cancer Center, located just a block away from Roosevelt Point, by December.