The Grand Canal Townhomes is a 4-unit development opportunity
in the heart of Midtown Phoenix. It sits right off of the popular 7th
Street corridor and is minutes away from multiple light rail stations
on Central Avenue. It is also alongside the Phoenix Grand Canal
where Phase I of the Grand Canalscape Project was completed
in 2020, adding a multi-use commuter path, pedestrian lighting,
landscaping, and public elements. You can access this portion of
the canal literally right outside the front door of this property. The
location is extremely central and allows residents to enjoy, with ease,
so much of what Phoenix has to offer. With many dining (the famed
7th Street Restaurant Row is less than 2 miles away), shopping, and
entertainment options, as well as multiple freeway access points within
minutes, The Grand Canal Townhomes is an extremely desirable
property for future residents to live.
The Grand Canal Townhome development opportunity sits in a very
well-located neighborhood that is going through a lot of revitalization.
The project consists of 4 platted lots with fully approved development
plans, ready for permits. The project also has plans available that
fit on the lots, allowing an investor to get permit approval on the
plans very quickly (full construction drawings are done and have
been approved in the City of Phoenix on other lots, so the same plans
should be approved on these lots as well). If someone wanted to
design their own product, they have that option as well. This is a great
bite-sized development opportunity in the heart of Phoenix and allows
an investor to build and sell units off individually or lease it up and
sell as an income-producing asset. Another option would be to build
the project, lease it up, and hold onto the units, as the area continues
to improve and sits in the heart of one the most attractive cities in the
nation.
