The Urban represents TruAmerica’s 13th investment in the Phoenix MSA and 9th acquisition of 2021.
The Urban is a substantial value-add opportunity as 331 units still remain unrenovated or lightly renovated. TruAmerica will renovate all units to a consistent, premium finish level, creating a high-end feel for future residents. TruAmerica also plans to make targeted, accretive improvements to exteriors and amenity spaces. Creating amenity improvements which will include clubhouse renovations, landscaping refresh, outdoor lighting, pool furnishings, exterior paint, and fitness center upgrades. These renovations will improve the current resident lifestyle and foster a more attractive image to prospective renters.
The Urban is located within a 6-mile radius to the heart of Downtown Phoenix, Biltmore Fashion Center, Old Town Scottsdale, Camelback Mountain, Arizona State University, Papago Park, and the Phoenix Sky Harbor Airport, The Urban with 435 units is surrounded by the city’s greatest amenities. The culmination of comfort and relaxed living offers The Urban’s inhabitants quick access to offerings that elevate their quality of life through entertainment and convenience of location. Additionally, the diversity in unit sizes makes this community a great fit for young business professionals, students, and families, allowing them to choose from a mix of studio, one, two-, and three-bedroom unit types.
The Urban features a centrally located clubhouse with chic white marble accents, engaging gallery art, and an open-concept industrial design. Complete with a coffee bar and fireplace, the clubhouse offers residents a new spot to work from home. The resort-inspired pool is situated in the apartment community center, with many rooms overlooking the large courtyard filled with lounge chairs, and an outdoor kitchen. In addition, residents have access to a fully operational state-of-the-art fitness center where they can use free weights and machines, and new cardio equipment.
The Urban is less than one mile from the Loop 202 freeway and less than two miles from the SR-143, SR-51, and the I-10 freeways, which provides expedient travel to approximately 550,000 jobs in a wide variety of professions. The property is also only two miles away from access to 70,000 jobs at the Phoenix Sky Harbor Airport.
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