Mountain Pacific Opportunity Partners, a Los Angeles-based capital provider for multifamily development with a focus on Opportunity Zones, announces the groundbreaking of Banyan Washington, which broke ground mid-September in Tempe, AZ.
In partnership with Banyan Residential, MP acquired 4.39 acres of Opportunity Zone land located at 5321 E. Washington Street in Tempe, AZ and plans to build 222 multifamily units. Banyan Washington, designed by local architect CCBG, will feature market-rate apartments centrally located near Phoenix Sky Harbor International Airport, the loop 202 freeway, and downtown Tempe. The project is situated directly along Phoenix’s light rail corridor and will feature first-class apartments in an industrial motif. Banyan Washington offers residents access to a resort-style pool, fitness center, meditation room, mobile market, dog walk, and tenant rooftop deck
This project was specifically of interest to MP as Tempe, along with Phoenix, is forecasted to lead the nation in job growth over the coming years and is further aided by the growing demand by Millennials and Generation Z to target “Sun Belt” markets.
For more information, please visit www.mntpac.com.