Real estate development company Hubbard Street Group and capital partner Cresset Real Estate Partners broke ground today 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 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 is expected to be completed in summer 2023. ALSO READ: Lincoln Ventures Brings 24 Story Moontower to Downtown Phoenix “We believe Skye’s 6th will bring a focused approach, efficiently designed units and an extensive range of amenities in the heart of the emerging Roosevelt Row Arts District and adjacent to the Phoenix Biomedical Campus, ”said Kage Brown, Managing Partner & Chief Investment Officer, Hubbard Street Group. “We are extremely optimistic in the Phoenix market and look forward to building 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 project,” 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 group of employers, 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. ”Additional Facts About Skye on the 6th Floor • Floor plans include studio, one-, two-bedroom and penthouse units on the top floor. • Amenities include a pool deck with cabanas, a state-of-the-art fitness center, a yoga studio, a steam room and sauna, a communal area, an outdoor terrace, a dog run, a party room, a kitchen for entertainers, a package storage room, bicycle storage, and underground parking Lockers. • Located on Roosevelt Row – a very popular entertainment, arts, retail and dining scene. • Adjacent to the expanding Phoenix Biomedical campus as well as the growing presence of the University of Arizona Medical School campus • In close proximity to highways, light rail, airport and several office submarkets. • One of only six Type I multi-family high-rise properties in Phoenix. • Shepley Bulfinch is the architect and Clayco is the general contractor.
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