By: Daniel Alpers | Vizzda
Another lavish student-housing complex in Tempe has come
online near the Tempe ASU campus. The District on Apache is a 900-bed
development that is located ±350 ft from the southeast corner of Rural Road and
Apache Boulevard, which is the intersection that marks the southeast corner of
campus. The Education Realty Trust REIT purchased the property from Residential
Housing Development, a Houston, Texas & West Palm Beach, Florida based
developer for $91m or $101,111 per bed. This is just one of many large student housing that have been built in
the booming Tempe urban market.
The six-story single-building property was built in 2013, totals
±365,225 SF, and wraps a 6-tiered 770 unit parking structure. The property
features 1,044 square feet of ground floor retail space that is divided by the
parking structure entrance. The property's 279 units consist of a mix of
studio, one-bedroom, two-bedroom, three-bedroom, four-bedroom, and five-bedroom
living spaces. These units surround the very unique lazy river style pool and Jacuzzi. Another notable feature is the 2-story workout
facility.
Photo of Streetscape on Apache |
In their press release, Education Realty Trust REIT
describes The District on Apache property to be “laden with the high-end
amenities that are fast becoming the prerequisite among the student
population”. This property enters the resort style Tempe student housing
submarket with the likes of 922 Place (across Apache Boulevard to north), Vista
Del Sol (±700 feet west of southwest corner of Rural & Apache), & The
Villas at Vista Del Sol (±1,400 feet west of southwest corner of Rural &
Apache), University House, and Grigio at Tempe Town Lake, most of which have
been built in the last few years.
This project, entitled with high intensity mixed use & residential
zoning (MU-4 & R-5) contributes to the Apache Boulevard urban streetscape with the vertical 6-story
building street-wall regulated to just 5-foot setbacks. This dense and walkability-prioritized
urban mixed-use building design compliments the surrounding southeast campus
student community that also includes a recently built dense cluster of ASU dorms at the northwest corner of the
intersection. Altogether, this relatively new southeast-campus student living cluster has created a beehive of pedestrian activity at the intersection of Rural Road and Apache Boulevard.
The majority of the land for the District on Apache project
(4.36 acres) was assembled in 2010 by Rockbridge Capital through three
transactions. Residential Housing Development bought that 4.36 acre piece in
2011, the 28-unit “Spence Ave Apartments” with the sale, and traded land with
Kevin Baer of Baers Den Bar, all concurrently on November 1st, 2011,
to assemble the 5.25 acres that the District on Apache sits on today. Baers Den
Bar relocated to the west side of the property.
i am agree with your thought, because many students wants their accommodation perfect , and it can be possible when they will see their apartment before arrived ?
ReplyDeleteits better way to check this apartments .
Liberty Park | Unite