The COVID-19 pandemic has forced real estate investors to think outside the box, resulting in a new trend of integrating multifamily housing with office projects. The concept of “live, play, work” has become increasingly popular among modern investors and developers.
A prominent office complex in Phoenix’s central business corridor may soon see an addition of luxury apartments. Mainstreet Capital Partners is planning to construct a 75-unit multifamily complex with various unit sizes and floor plans that offer top-notch amenities. According to the Phoenix Business Journal, these apartments will replace an existing parking garage at the Camelback Lakes office complex which currently consists of four multi-story buildings spanning over 203,290 square feet. Shepley Bulfinch will serve as the architect for this project.
In addition to providing upscale living options for residents, these new apartments could also support local retail stores, restaurants and other commercial establishments within walking distance from the site. This development is expected to bring significant benefits for both current and potential employers in the area without mentioning any specific names or brands associated with Connect CRE or its affiliates.
