Chandler-based Paragon Development Group recently began construction on Hampton Meridian, a new 195-unit, luxury, build-to-rent community on 15.67 acres on the NEC of West Southern Avenue and South Meridian Road in Apache Junction. Its first units are expected to be available in March 2022. “The demand for convenient, new and well-located residential rental choices in the US 60 corridor and within 30 minutes to Downtown Phoenix contributed significantly to Paragon’s decision to develop another of its build-to-rent communities in the Southeast Valley submarket,” says Bruce Dunn, president of Paragon Development Group.
Paragon Development purchased the site for $3.1 million, and will model the development after its Arizona Multihousing Association award-winning community Hampton East with one-, two- and three-bedroom attached and detached residences ranging in size from 645 square feet to 1,295 square feet. The new community will provide residents with convenient and direct access to US 60, and offers a low-maintenance, luxury lifestyle in a gated community. Community amenities will include a pool, spa, sundeck, outdoor kitchens, fitness center and fire pit in addition to community lawns and open spaces, community pedestrian paths, dog park and onsite property management.
“Following the success of our communities in Mesa, Paragon has identified the continuation of the growth from Mesa into western Apache Junction and along the US 60 as a prime opportunity to bring our luxury residential rental option without a mortgage, HOA and other home ownership burdens to our residents,” says Dunn.
Consistent with Paragon’s other build-to-rent community neighborhoods, Hampton Meridian will utilize Tempe-based HercuTech’s HercuWall® panelized structural wall system consisting of concrete, steel, polyester film and insulating foam. In addition to creating nearly soundproof residences, HercuWall® will enable The Hampton Meridian residents to achieve energy savings up to 40% as compared to residences built without HercuWall®.
Hampton Meridian’s pet-friendly residences will include ample covered parking, optional garages, private backyards and front entries, open floor plans, 10-foot ceilings, granite and quartz countertops, full size washers and dryers and stainless-steel appliances.