Sky Harbor Lofts is a great development opportunity located just east of Downtown Phoenix and just north of Sky Harbor Airport. The
property sits just over two miles from the heart of downtown Phoenix, and approximately a half a mile from Sky Harbor International
Airport. It is also approximately one block away from the nearest light rail station, taking residents to all parts of the valley including
Downtown Phoenix and Downtown Tempe. Both Tempe and Downtown Phoenix have large higher education presences with ASU (one of the largest universities in the country and having large campuses in both locations), as well as the Phoenix Bioscience Core (PBC), a 30-acre life sciences innovation district in the heart of Downtown Phoenix. Home to the highest concentration of research scientists in the state, the PBC’s anchor institutions include Arizona’s three public research universities — Arizona State University, Northern Arizona University, and the University of Arizona — leading genomics pioneers including the Translational Genomics Research Institute (TGen), part of the City of Hope; the International Genomics Consortium; Exact Sciences; several of Phoenix’s major health care systems, such as Banner Health, Phoenix Children’s Hospital, Dignity Health, and Valleywise Health; and a growing number of emerging life science companies. ASU also just announced its future medical school will be located in downtown Phoenix. This location is also minutes to the I-10 and Loop 202, allowing residents easy access to all areas of the city. Being in the nucleus of the city, residents can enjoy, with ease, so
much of what Phoenix has to offer. With many dining, shopping, and entertainment options, as well as multiple freeway access points
and light rail stations within minutes, this property will prove to be a phenomenal redevelopment opportunity in a great central location.
Located in an Arizona Opportunity Zone, Sky Harbor Lofts is a land assemblage of 9 parcels consisting of 2.6 gross acres (1.87 net acres). Zoning has been approved for Walkable Urban Code with a preliminary site plan in process for 94 units. The site plan shows (42) efficiency units, (43) one-bedroom units, and (9) two-bedroom units. It is all surface parked with 85 spaces which is allowed under the WU-code zoning. There should be no entitlement risk with zoning approved. Preliminary site plan by close of escrow. Buyer will have flexibility to process their own construction drawings and tweak the plans and architecture to fit their business model.
