Arizona

PHOENIX — LV Collective and Cross Harbor Capital Partners have begun leasing Moontower, a 326-unit project in Phoenix’s Roosevelt Row art district. JE Dunn is the general contractor for the project. Arvest Bank is providing the debt. Shepley Bullfinch is serving as architect and Michael Hsu Office of Architecture is providing interior design services. Greystar is leasing the property.  Moontower offers studio, one- and two-bedroom floor plans with rents starting at $1,790 per month. Community amenities include a coffee and cocktail bar, fitness center, rooftop pool deck, co-working and conference …

PHOENIX — A joint venture between Toll Brothers Apartment Living and The Davis Cos. has opened Callia, a 403-unit community in Phoenix’s midtown neighborhood. The project broke ground in 2021, with resident occupancy beginning in October 2022. Development was financed through a construction loan facility from Pinnacle Financial Partners and Trustmark. Callia is situated on an 8.2-acre site. The community was designed by Phoenix-based architect Biltform and interior designer Streetsense. Callia offers studio, one-, two- and three-bedroom apartments, as well as nine live-work units. Community features include surface parking and …

SCOTTSDALE, ARIZ. — Mill Creek Residential has broken ground on Modera Reserve, a 360-unit community in the Kierland neighborhood of North Scottsdale. The project is Mill Creek’s second in Arizona. First move-ins are estimated for spring 2025. Modera Reserve will offer studio, one-, two- and three-bedroom floor plans, averaging 938 square feet in size. The property is designed around three courtyards and 10,000 square feet of interior amenity space, which will include a fitness center, digital package room, coworking spaces, a resident lounge and a clubroom with a pool table. …

MESA, ARIZ. — Scottsdale, Arizona-based Talos Holdings has broken ground on The ONE at Mountain Vista in Mesa, Arizona, which is 19 miles east of Phoenix. Northmarq’s debt and team of Brandon Harrington and Tyler Woodard secured $85.3 million in construction financing for the development, including a $59.2 million senior construction loan from a life insurance company and $26 million of preferred equity from a real estate private equity firm. The combined senior construction loan and preferred equity is 80 percent loan-to-cost. The ONE at Mountain Vista is expected to …