National real estate developer Wood Partners has announced the official opening of Alta 87, a new 257-unit apartment community in Gilbert, Arizona. The development, located on Arizona Avenue just south of Baseline Road, aims to address the growing demand for high-quality rental housing in the Phoenix metropolitan area's Southeast Valley.
To attract new residents, the property is launching with several leasing specials, including an offer of two months of free rent. This project represents Wood Partners' third residential community in the region, signaling the company's continued investment in the fast-growing Arizona market.
Key Takeaways
- Wood Partners has opened Alta 87, a new 257-unit apartment complex in Gilbert, Arizona.
- The development is located on Arizona Avenue, south of Baseline Road, a key area in the Southeast Valley.
- The community offers a mix of one-, two-, and three-bedroom floor plans.
- Amenities include a structured parking garage, pickleball courts, a speakeasy, and EV charging stations.
- Introductory leasing promotions include an offer of two months of free rent for new tenants.
New Residential Project Completed in Gilbert
A new housing option is now available for residents in the Southeast Valley with the debut of Alta 87. Developed by Wood Partners, a prominent national real estate company, the complex adds 257 modern rental units to the local market. The property features a multi-level structured parking garage, a significant feature designed to provide convenient and secure parking for its residents.
The development is strategically positioned to serve the growing population of Gilbert, a suburb that has seen consistent economic and residential expansion. The project's completion marks a notable addition to the area's housing inventory, which has been under pressure due to high demand.
Developer Addresses Regional Housing Needs
The expansion by Wood Partners into Gilbert reflects a broader strategy to capitalize on the robust growth of the Phoenix metropolitan area. Company officials have highlighted the strong demand for premium living spaces as a primary driver for the project.
"The opening of Alta 87 marks an important milestone for Wood Partners as we continue to expand our footprint in the fast-growing Phoenix market," said Todd Taylor, Managing Director for Wood Partners, in a public statement. He emphasized the project's role in meeting local housing needs.
Taylor further elaborated on the market dynamics influencing the development. "With strong demand for high-quality housing in the southeast Valley, this community delivers a best-in-class living experience while contributing to the area’s ongoing growth and vitality," he added. This statement underscores the developer's confidence in the region's economic stability and future prospects.
Context: Growth in the Southeast Valley
The Southeast Valley, which includes cities like Gilbert, Chandler, and Mesa, has become a major hub for economic development in Arizona. The area is known for its strong job market, particularly in the technology, finance, and healthcare sectors. This economic growth has fueled significant population increases, creating sustained demand for new housing developments like Alta 87.
Comprehensive Amenities for Modern Lifestyles
Alta 87 was designed to cater to contemporary resident expectations, offering a wide array of amenities that blend recreation, wellness, and convenience. The property aims to provide a complete lifestyle experience rather than just a place to live.
Recreation and Social Spaces
Central to the community's design is a resort-style pool and spa area, intended as a primary gathering spot for residents. The development also includes a two-story clubhouse that houses various social and entertainment spaces. Notably, the property features a unique speakeasy-style lounge, offering a distinct social atmosphere. For sports enthusiasts, there are two dedicated pickleball courts, tapping into the rising popularity of the sport.
Wellness and Productivity
Recognizing the shift towards remote work and flexible schedules, Alta 87 incorporates dedicated co-working spaces. These areas provide residents with a professional environment to work from home without sacrificing productivity. Adjacent to this is a state-of-the-art fitness center, equipped with modern cardio and strength-training machines to support residents' health and wellness goals.
Property Features at a Glance
- Total Units: 257
- Layouts: One, two, and three-bedroom options
- Parking: Structured parking garage
- Key Amenities: Pool, spa, fitness center, two pickleball courts, co-working spaces, speakeasy, EV charging stations, and bike storage.
Diverse Floor Plans and Leasing Incentives
The community offers a variety of living arrangements to suit different needs, with a mix of one-, two-, and three-bedroom layouts. This diversity in floor plans is intended to attract a wide range of residents, from single professionals to small families.
To accelerate the leasing process and attract initial residents, Wood Partners has introduced competitive move-in specials. The most significant of these is an offer for two months of rent-free living. Such incentives are a common strategy in the competitive rental market to ensure high occupancy rates shortly after a new property opens.
Strategic Location Near Major Retailers
The location of Alta 87 was chosen for its convenient access to major transportation routes and local amenities. Situated on Arizona Avenue, the complex offers easy connectivity to other parts of the Valley. Its proximity to Baseline Road places it near a corridor of significant commercial activity.
Residents will find themselves conveniently located near several major retail destinations. The property is adjacent to a Costco, providing easy access to groceries and household goods. For broader shopping and dining options, the Chandler Mall is a short drive away. Additionally, the nearby PGA Tour Superstore caters to the area's large community of golf enthusiasts. This combination of accessibility and proximity to essential services enhances the property's appeal to potential renters.
