EdR Names New ASU Project

by Katie Sloan

Phoenix — The development with Concord Eastridge also has a new website, begins leasing in October.

Roosevelt Point will include two buildings with 326 apartments.Phoenix   —The buildings at Third Street along Roosevelt Row in downtown Phoenix have been steadily rising into the skyline since the ground-breaking in March. Now the project has a name reflecting its geographic and social place in the community — Roosevelt Point.

Scottsdale-based Concord Eastridge is developing and constructing the housing, which will be owned jointly with EdR. EdR is the majority owner and managing member of the joint venture and will manage the community. Although EdR owns and manages several collegiate housing properties in Arizona, Roosevelt Point is EdR’s first development in the state.

In addition to the new name, EdR and Concord Eastridge are launching the public website for potential residents to find more information about the project: www.RooseveltPoint.com.

The temporary leasing office will open in the nearby Arizona Center on Oct. 3, 2012, but the staff is available to answer phone calls now at 1-877-804-7115.

Targeted for completion in June 2013, Roosevelt Point is designed to be an option for urban professionals as well as students and new graduates affiliated with the Arizona State University Downtown Phoenix Campus, the University of Arizona’s College of Medicine and the Phoenix Biomedical Campus, which are all within walking distance of the new community.

The apartment community will include two buildings with 326 apartments in a mix of studio, one-, two, three- and four-bedroom floor plans. Each bedroom will have a private bath. The community will also feature a parking garage and other upscale amenities such as common areas, fitness and tanning facilities, and swimming pools. Rent levels have not been determined but will include all utilities, high-speed Internet and basic cable service.

A 7,500-square-foot retail space fronting Roosevelt and Fourth streets will be subdivided depending on future tenant needs. The company is seeking retailers that will appeal to all downtown residents.

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