Valle View at the Pointe
4.76 Acres of Residential Land in Phoenix, AZ 85020
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
- Property Type
-
Land
Listing Contacts
Matt Gehrke
Verified Profile
- Property Info
Property Overview
On the north side of Phoenix, nestled within an enclave of foothills called the Phoenix Mountain Preserve and the North Mountain Preserve, 10444 N Cave Creek Road is a unique and inherently attractive site for multifamily development named Valle View at the Pointe. These preserved lands offer residents many parks, trails, and other amenities to explore. The site sits high enough to provide panoramic views of the mountains, the Valley, and Downtown Phoenix that anchor the iconic Pointe Hilton Tapatio Cliffs Resort.
Allante took notice of this site in 2017, but it was not yet ripe for development. Following the economic growth during the last market cycle, this assemblage is one of only a few sites with proper zoning already in place (and in progress) for multifamily development. Upon assembling the first four parcels, Allante conceptually designed and received preliminary city approval for 152 to 157 multifamily units. By acquiring 5D, the development potential of this assemblage has dramatically improved.
With existing mixed zoning, the assemblage would yield approximately 170 units. However, rezoning 2B, 5C, and 5D from commercial to R-5 will produce 240 units in a four-story format wrapped around structured parking. The potential for more units depends upon bonus density, granted for specific development criteria. Allante has assembled a high-quality development team, including rezoning legal counsel, neighborhood relations consultants, general contractors, architects, engineers, and other professionals.
Rezoning an early phase of development planning is in progress. Given the explosive demand growth for apartments in the Phoenix Valley, there is a corresponding, unsatisfied demand for land with multifamily zoning. The proposed development, Valle View at the Pointe, offers inherently desirable natural amenities of mountain parks, pet-friendly walking/hiking trails, and convenient access to highways and retail. The multifamily property's communal roof-top and upper-level units will boast some of the best views in the Phoenix Valley.
Allante took notice of this site in 2017, but it was not yet ripe for development. Following the economic growth during the last market cycle, this assemblage is one of only a few sites with proper zoning already in place (and in progress) for multifamily development. Upon assembling the first four parcels, Allante conceptually designed and received preliminary city approval for 152 to 157 multifamily units. By acquiring 5D, the development potential of this assemblage has dramatically improved.
With existing mixed zoning, the assemblage would yield approximately 170 units. However, rezoning 2B, 5C, and 5D from commercial to R-5 will produce 240 units in a four-story format wrapped around structured parking. The potential for more units depends upon bonus density, granted for specific development criteria. Allante has assembled a high-quality development team, including rezoning legal counsel, neighborhood relations consultants, general contractors, architects, engineers, and other professionals.
Rezoning an early phase of development planning is in progress. Given the explosive demand growth for apartments in the Phoenix Valley, there is a corresponding, unsatisfied demand for land with multifamily zoning. The proposed development, Valle View at the Pointe, offers inherently desirable natural amenities of mountain parks, pet-friendly walking/hiking trails, and convenient access to highways and retail. The multifamily property's communal roof-top and upper-level units will boast some of the best views in the Phoenix Valley.
Property Details
- Property Subtype
- Residential/Multifamily
Highlights
- Rare urban-infill multifamily assemblage development opportunity surrounded by the Phoenix Mountain Preserve and the North Mountain Preserve.
- This multifamily assemblage development opportunity is conveniently surrounded by natural beauty and access to I-17, I-10, and nearby amenities.
- Six contiguous parcels were assembled, mostly zoned R-5 (partial rezone of C-2 to R-5 in progress), yielding 240 units or more with bonus density.
- Centrally located in the Phoenix Metro, 20 minutes from the Taiwan Semi-Conductor Factory (TSMC) and Downtown Phoenix.
- Valle View at the Pointe is the proposed outdoor-oriented community with great views, a full suite of on-site amenities, and access to mountain parks.
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