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 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.