Hines, a global real estate investment manager, has closed on a 14.6-acre site to develop a multifamily property located in Peoria, Arizona. The site is located within The Trailhead, a 40-acre mixed-use master plan at 83rd and Happy Valley Road. Pederson Group developed the Trailhead, and this transaction initiates the next and final phase of development within the master plan.
“We are excited to be part of this dynamic mixed-use master plan,” said Chris Anderson, senior managing director at Hines. “This multifamily property will not only elevate the community with a distinctive luxury living experience but also meet growing demand for high-quality housing in the Happy Valley Corridor. We anticipate strong interest from residents seeking comfort, style, and convenience in a thoughtfully designed setting that promotes connection and modern living.”
The multifamily property will be a three-story luxury community with 336 units. The units will be comprised of spacious one, two, and three-bedroom floor plans. Unit interiors will have luxury interior design finishes and high-end appliances. The community amenities will feature a clubhouse, fitness center, and Pilates rooms, an interactive landscape playground, a resort-style pool and spa, and more.
Surrounded by lush landscaping, the property will be within walking distance to retailers and dining options located in The Trailhead mixed-use master plan that is anchored by Safeway. Popular restaurants recently opened, such as Sparrow, a restaurant concept owned by Sky Restaurant Concepts that offers eclectic American cuisine. The Trailhead mixed-use master plan also features a nondenominational worship center and a community garden. In addition, it will have direct trailhead access to the Sunrise Mountain Preserve, a 4.0-mile hiking and biking loop.
