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MESA, AZ-A Chicago company has marched into the metro area with a 4.91-acre acquisition. Roszak ADC bought the land at Alma School Road and Southern Avenue for $6.4 million with plans to build a 540-unit, high-rise condominium dubbed Fiesta Towers. Once completed, Fiesta Towers will be Mesa's tallest building.

Bert Kempfert, first vice president with CB Richard Ellis' Phoenix office, tells GlobeSt.com that groundbreaking on the project likely won't take place for about a year. "They're building four towers ranging anywhere from between 10 and 25 stories in the first phase. He'll build the second phase and subsequent phases as demands dictate," adds Kempfert, who represented the seller, AVB FLAG LLC of Phoenix.

Roszak could end up developing more than 800 units for the project, depending on popularity and demand. Kempfert indicates it could happen, as the project has strong support from the city of Mesa, as well as area neighbors and employers. "It's across the street from Fiesta Mall, and down the street from a hospital owned by Banner Health. This area could be considered the 24th and Camelback of Mesa," he adds.

Kempfert notes that while Fiesta Towers is Roszak's first metro area project, the company is no stranger to high-rise residential developments, having built similar projects in and around the Chicago area. The Midwest developer owns a site in downtown Phoenix and Kempfert says he's been asked to locate sites in the Houston area.

"I think they'll be around for awhile," he says. Representatives from Roszak could not be reached by press time to discuss specifics of Fiesta Towers or future projects.

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