Apartment Development Planned for NW Valley

by Mike Hunter

Houston-based Hines plans to develop a 325-unit luxury multi-family community that will total 318,000 square feet on approximately 11 acres near the northwest corner of Happy Valley Road and 35th Avenue.

The parcel was purchased for $6,725,000 from locally based shopping center development company The Pederson Group, which acquired the full 23-acre site from the Arizona State Land Trust and now, represented by Chaz Smith, John Finnegan and Ramey Peru with Colliers International in Arizona, has sold the back 11 acres to Hines. 

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