By AZRE
Scottsdale, Arizona-based multifamily investor, developer and manager MC Companies has announced it will develop Arroyo Verde, a $39.6 million, 156-unit Class A multifamily development in the suburbs immediately north of Tucson, Arizona, where renter demand continues to outstrip supply. The community will be the first for a new joint venture between MC Companies and a global institutional investor, established to bolster the development growth of both companies across Arizona.
Located on more than 9 acres at the northeast corner of La Cholla Blvd. and Old Magee Rd., Arroyo Verde will offer seven luxury floorplans ranging from 764 square feet to 1,408 square feet, with studio, one-, two- and three-bedroom configurations.
“We have seen Arizona’s need for multifamily housing up close and personal, and are extremely excited for this opportunity to deliver a new round of high-quality, in-demand product within our home state,” said MC Companies Co-Founder and Principal Ross McCallister. “We are honored to do this alongside a global partner known for its multifamily acumen, and appreciate our friends at CapMatrix for making the introduction.”
