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

According to a press release, the joint venture is seeing enough population growth and demand for luxury apartments to move forward on the project. The development team also says ongoing corporate relocations and expansions will help to ensure continued in-migration and drive occupancy. Calls to New York City-based NDC Capital 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 a great deal of interest and growth. Local sources say land sales and development have slowed somewhat throughout the metro as buyer and seller expectations come more into alignment, but the far west submarket is particularly attractive because it's less than a day's drive to the ports of Long Beach and Los Angeles. Relocations of logistical companies and warehouse developments are driving growth in the area.

The 1,508-acre Asante development has 1,272 acres reserved for a variety of residential construction, ranging from low-density single-family homes to medium- and high-density detached and attached units. In addition, 101 acres have been set aside for commercial development. It's estimated Asante will attract up to 40,000 residents.

NDC and PB Bell have partnered on other multifamily projects in the area. These include the 258-unit Chuparosas Apartments at 2222 S. Dobson Rd. in Chandler and 202-unit Desert Parks Vista at 9393 E. Palo Brea Bend in North Scottsdale.