Construction has begun on Almeria at Octoillo.

CHANDLER, AZ-Construction is underway on the 389-unit Almeria at Ocotillo, located in the 73-acre, mixed-use Waters at Ocotillo. Gilbane Development Co. has joined forces with the PB Bell Cos. to build the class A multifamily property, which is scheduled for an early 2014 completion.

“Our development team has worked very hard to bring this “Best in Class” luxury apartment community to Chandler,” says Bob Gilbane, chairman and CEO of Gilbane Development in a press release. “We believe with the wonderful amenity package, lake side views and state of the art leasing we will offer at the location in the beautiful community of Octotillo we will set a new standard of living in Chandler.”

Almeria at Ocotillo is situated on Dobson Road and Market Place, adjacent to downtown Ocotillo. Furthermore, the complex – and master-planned development – is located in the Price Road Corridor, which is also home to employers including Intel, eBay, PayPal, Orbital Sciences, Amkor Technology, Freescale Semiconductor, Microchip Technology and Wells Fargo.

Almeria at Ocotillo offers one-, two- and three-bedroom units, with complex amenities including gated access, attached garages, two heated resort-style pools, resident lounges and two fitness centers. A spokeswoman for the project tells GlobeSt.com that rents have not yet been set for the units.