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September 14, 2020 Comments Off on Banyan Residential Launches Development on PHX Opportunity Zone Site Views: 551 Phoenix, Phoenix & Southwest News, Top Phoenix

Banyan Residential Launches Development on PHX Opportunity Zone Site

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Banyan Residential and Mountain Pacific Opportunity Partners started construction at 5321 E. Washington in Phoenix. The 223-unit multifamily project is centrally located east of the Loop 202 Freeway in an Opportunity Zone adjacent to the Valley Metro light rail.

The community will feature an industrial design motif and include a resort-style pool, fitness center, rooftop deck, mobile workspace hub, and fenced dog run area. Units will include stainless steel appliances, engineered stone countertops, and plank flooring, as well as glass showers and balconies in select units.

City of Phoenix’s Christine Mackay says, “The strategic location of this development is driving additional interest in the area, and these projects are adding vitality, economic opportunity, and infrastructure improvement to our city.”

Construction is set to begin this month with the first units slated for occupancy in late 2021. It will mark Banyan Residential’s second ground-breaking in the area this year.

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