The complex will be located in Asante, a $1-billion communitycurrently under development. The development site is situated alongGrand Avenue, about one-quarter mile from Loop 303.

According to a press release, the joint venture is seeing enoughpopulation growth and demand for luxury apartments to move forwardon the project. The development team also says ongoing corporaterelocations and expansions will help to ensure continuedin-migration and drive occupancy. Calls to New York City-based NDCCapital Partners were not returned by press time.

As GlobeSt.com has previously reported, the West Valley area,including the towns of Avondale and Surprise, are experiencing agreat deal of interest and growth. Local sources say land sales anddevelopment have slowed somewhat throughout the metro as buyer andseller expectations come more into alignment, but the far westsubmarket is particularly attractive because it's less than a day'sdrive to the ports of Long Beach and Los Angeles. Relocations oflogistical companies and warehouse developments are driving growthin the area.