Via City of Chandler
By Chandler Arizonan
A national multifamily development and management company has paid $10.4 million for 12.59 acres on the southwest corner of Arizona Avenue and Queen Creek Road in Chandler for a 345-unit apartment complex.
The April 25 purchase by Mill Creek Residential and subsidiary Chandler Farms Apartment from HHB I LLC and NNS Construction & Development broke down to a per-acre price of $830,929, according to Valley real estate tracker vizzda.com.
The complex will comprise eight three-story buildings housing the residences with a mix of 627 garage and surface parking spaces and two one-story commercial buildings with another 63 parking spaces, according to plans submitted to the city.
