PHOENIX, AZ - Greystar Real Estate Partners, a global leader in the investment, development, and management of real estate, including rental housing, logistics and life sciences, announced that it has broken ground on City North Residential Phase II.
"We are excited for our partnership with SofMac Partners and Security Benefit Life Insurance Company on the second phase of the City North project," said Billy Cundiff, Managing Director, Development, Greystar. "City North allows us to deliver a world-class residential development that is adjacent to office space, dining, entertainment and shopping options, which stimulates the local economy and helps Phoenix continue to grow as a desirable destination."
City North Residential Phase II will add 348 residences to the 272 that are currently underway in Phase I. Floorplans will be available in one- and two-bedroom layouts that range from 621 sq. ft. to 1,439 sq. ft. The seven-story building will have five residential stories as well as a parking garage, a rooftop amenity deck, relaxing landscaping, and breathtaking mountain views.
The second phase will feature refined boutique hotel-inspired in-home finishes like two toned cabinetry, quartz countertops and designer tile backsplashes. The community will boast a seven-story rooftop amenity deck that features a state-of-the-art fitness center, resort style pool and spa, outdoor cabanas and more. The ground-floor clubhouse and coworking spaces will feature two-story volume and storefront glass that bathes the space in natural light. The surrounding desertscape inspired the design of the exterior architecture and landscaping.
City North Residential Phase II, which is situated within the City North master plan, includes walking access to retail, restaurants, coffee shops, fitness studios and more along High Street with additional retail and restaurants. The community is also in close proximity to major existing and future employment uses including Mayo Clinic, Discount Tire, Republic Services and American Express.
Preleasing for the community is slated to begin in late 2025 with final completion planned for the second quarter of 2026. Lawrence Lake Interiors is overseeing the interior design, the architecture firm is Architects Orange and ABLA is the landscape architect. City North Residential Phase II is developed together with our equity partner SofMac Partners and lender Security Benefit Life Insurance Company.