Need for Affordable Housing Grows Rapidly in Phoenix

The rise in commercial real estate investment in Phoenix has created a growing need for affordable housing in the Downtown market.

By Kelsi Maree Borland | August 19, 2019 at 04:00 AM

The rise in commercial real estate investment in Phoenix has created a growing need for affordable housing in the Downtown Phoenix area. A joint venture between Pacific Oak Capital Advisors and Defer Gain is building three multifamily projects in the Downtown Phoenix’s Presidential District. All three projects are in opportunity zones.

The three developments include the 241-unit St. Ambrose Apartments and the 84-unit Presidential Apartments both situated between 11^th and 12^th Streets and Van Buren and Jefferson Streets in Phoenix, as well as the 140-unit Imperial Apartments located near 20^th Street & Roosevelt in Phoenix.

Pacific Oak Capital Advisors and Defer Gain formed a joint venture to develop, finance, and operate multifamily, commercial, and industrial income producing properties in Arizona Opportunity Zones.

NOT FOR REPRINT

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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