Rockefeller Group, IPA Plan Two Apartment Developments In Phoenix
The Rockefeller Group, an arm of Mitsubishi Estate Co., and Investment Property Associates are planning two metro Phoenix apartment developments, one in the Deer Valley submarket of Phoenix, the other in Goodyear. The properties will total 711 units and be part of IPA's Liv brand.
Liv North Valley, which will be in Deer Valley at North Valley Parkway and Sonoran Desert Drive, will total 385 units. In Goodyear, the companies will develop a 326-unit community called Liv Goodyear at West Virginia Avenue and Pebble Creek Parkway. The projects, both designed by Whitneybell Perry Inc, are scheduled for completion in the third and fourth quarters of 2018, respectively. IPA will manage both projects.
The developments follow on the heels of Liv Northgate, a 402-unit property that the partners completed in Gilbert last year. "While we owned the land in North Valley and brought Rockefeller Group in as a partner, the two companies sought out the land in Goodyear together because we knew that there was a need for high-quality residential in the Southwest Valley,” said Bill Fettis, partner of IPA and co-founder of IPA Management. There are other Liv communities in North Scottsdale, Chandler and Phoenix.