Officials from Watt Communities of Arizona and Southern California-based parent company Watt Communities have celebrated the groundbreaking of Dorsey Lane, a 51-unit, for-sale upscale urban living townhome project in central Tempe, Arizona.
Dorsey Lane is the first of five infill urban living communities, with a construction value of more than $25 million, scheduled to break ground by Watt in metro Phoenix this year.
Dorsey Lane is located on 3 acres just south of the southwest corner of Broadway Road and Dorsey Lane in Tempe. It is surrounded by Dorsey Crossing, a mixed-use residential, office and commercial services project, and within minutes of the Loop 101, Loop 202 and US 60 Superstition freeways. Dorsey Lane is also just one mile from Arizona State University and the nearby, booming Mill Avenue/Tempe Town Lake employment corridor.
“Tempe is a mecca for new corporate office developments, drawn to the area’s highly educated employees and fantastic dining, shopping and entertainment,” said Steve Pritulsky, President and CEO of Watt Communities of Arizona. “It is where companies want to be and where employees want to live. We are ready to fill that need with a product that moves residents from renting to owning, while still maintaining an urban lifestyle.”
When completed, Dorsey Lane will offer contemporary, three-story urban townhomes ranging in size from 1,400 to 1,800 square feet. Each townhome is designed with its own two-car garage and features community amenities such as a gated entry, pool/ramada/sundeck, outdoor poolside kitchen and landscaped paseos. Pricing for Dorsey Lane will be released as its models near completion in mid-2015. The project is scheduled to open in August.
“Watt has a decades-long track record of successful urban residential infill developments,” said Watt Communities President Howard Press. “We are thrilled with our partnership in Arizona, with the tremendous sites that Phoenix has to offer and with the pipeline of projects that we will be delivering here in the year ahead.”
“We could not have found a better partner than Watt,” said Paul Timm, COO of Watt Communities of Arizona. “They understand the importance of matching each unique location with the specific needs of that submarket. We’ve done this at Dorsey Lane, and at all of our sites, to combine the vibrancy of urban living with all of the comforts of home.”
In addition to Dorsey Lane, Watt will break ground on four other for-sale, metro Phoenix infill residential projects this year. These developments include Biltmore Living, a 40-unit urban townhome project in the Camelback Corridor; 16 Ocotillo, a gated community totaling 16 single-family detached homes at 16th Street and Ocotillo Road in North Central Phoenix; The Enclave at 32nd Street, totaling 31 two-story, single family detached homes near 32nd Street and Cactus Road in North Phoenix; and the company’s newest project, totaling approximately 27 upscale urban townhomes at 8th Street and Roosevelt in downtown Phoenix.
At Dorsey Lane, BSB Architects serves as the project architect, CEG is the civil engineer and WCA Development Services is the general contractor. The construction lender is Sabal Financial.
Watt Communities of Arizona continues to evaluate other sites in key Phoenix area urban infill markets as well, with the goal of developing additional quality, attached and higher density detached for-sale communities.