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Alliance working on $90M Phoenix, Gilbert apartments

Posted by   /  May 14, 2015  /  No Comments

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Broadstone-Civic-Center-GilbertBy Roland Murphy | Arizona Builder’s Exchange

Phoenix-based Alliance Residential has announced plans to build a 256-unit Broadstone apartment complex in Gilbert and another 280-unit development in downtown Phoenix.

Development costs are estimated at approximately $40M for the 13.7 acre Gilbert property and $50M for the 3.9 acre Phoenix space.

Broadstone Civic Center

Located on the SWC of Gilbert & Warner Roads, the Broadstone Civic Center project is under development as a joint venture between Alliance Residential and Appian Capital LLC. The site land was purchased for $3.85M from AZ Gilbert Holdings 2.

Under design by Whitneybell Perry Architecture Inc. and ORB Architects, the 17-building development will feature apartments ranging from one-to-three bedrooms, with estimated rents of between $1,000 and $1,475 per month.

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