PHOENIX, AZ – Real estate development company Hubbard Street Group and capital partner Cresset Real Estate Partners have laid the foundation stone for a new multi-family project in Phoenix. Located on the southeast corner of 6th Street and Garfield Street in the Roosevelt Row Arts District, the new Skye on 6th development project will include 309 units on 26 floors with approximately 6,500 square feet of retail space on the ground floor. The project will be LEED certified and expected to be completed in summer 2023.
"We believe Skye in 6th place will set a new standard for modern luxury living in Phoenix with a wellness-centric approach, efficiently designed units and extensive recreational facilities in the heart of the emerging Roosevelt Row Arts District and adjacent to the Phoenix Biomedical Campus," said Kage Brown, Managing Partner and Chief Investment Officer of the Hubbard Street Group, "We are extremely optimistic about the Phoenix market and look forward to establishing a local presence with Skye on June 6th."
"Phoenix is an incredible market and we are excited to be laying the foundation for this new venture," said Avy Stein, founder and co-chair of Cresset. “We've been investing in opportunity zones since day one and Skye on the 6th is something that caught our eye immediately. The area is changing rapidly, attracting young renters from across the country. It is located near several transportation hubs and is surrounded by a growing and diverse workforce, from cutting edge medical facilities to universities to a large presence of legal and financial services and an emerging tech community. We think Phoenix is a great place to live and work with endless potential. "
Source: Hubbard Street Group / Cresset Real Estate Partner