Multifamily Booms in Phoenix as Market Is Ripe for Continued Development Across all Sectors

HAs ULI’s ninth hottest market to watch in the U.S., Phoenix is primed and ready for development in overall real estate prospects. From apartment complexes, student housing and senior living to manufacturing and cold storage warehouses and beyond, the Valley and the entire state of Arizona are full of opportunities.

State of the Phoenix market

Brinkmann and The X Co. are working to add to the downtown Phoenix skyline with the 19-story, 400-bed X Roosevelt. With 3,500 square feet of retail space, coworking areas, a dog park and more, X Roosevelt is adding more than just housing to the bustling downtown area. X Roosevelt will be the epitome of a live, work, play lifestyle – a trend that has been elevated due to the rise in the want or need to rent instead of buy.

Within the rise of multifamily developments comes a renewed vision for student living, one that focuses more on the experience of residents while adding to the community and its environment. Gone are the days of “just a place to live” for college students, and here are the days of a full student housing experience. Park Place Flagstaff from developer Park 7 is currently under construction near Northern Arizona State University, bringing 201 units and 628 beds along with indoor and outdoor amenities. With space for students to study, relax and connect, this luxury student living development is more than living, it’s a lifestyle.

As the general contractor on these projects, Brinkmann worked with all stakeholders and partners involved to deliver the creative and innovative insight beyond measure we’ve been known for for nearly 40 years. With the opening of Brinkmann’s fifth office location in Scottsdale late last year, the company has been able to establish a greater presence in the Arizona market, which we have been working in for years.

Brinkmann’s total completed work in Arizona exceeds $377 million with $283 million and 2.6 million square feet under construction currently – a testament to Brinkmann’s experience and dedication to developing quality projects in the state.

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