December 22, 2024 6:04 am
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Alliance to develop Broadstone Apartments

Credit: Business Real Estate Weekly

Arizona Business Exchange

Alliance Residential Co. plans to develop a 200-unit luxury apartment complex at the northeast corner of Third Avenue and Osborn Road in midtown Phoenix.

A joint venture formed by Alliance Residential paid $6M to buy the 2.4-acre site, which is now occupied by two buildings built in the late 1950’s. Portions of the currently vacant structures will remain and be incorporated into the design. Alliance Residential is developing the upscale apartment community in joint venture with Appian Capital LLC.

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