Plans are underway for the construction of a new housing complex on some 3 acres in downtown Phoenix.
The project will go up on a four-acre site at the northwest corner of 4th Avenue near Olson Road in a part of the city populated with retail and office structures built in the 1960s and 70s.
The project belongs to Subtext Living, which is based in St. Louis and specializes in both multifamily and student housing.
Papers for the project submitted to the City of Phoenix are calling for a complex with just under 390 rental units in a single 6-story structure.
As proposed, the development will offer units ranging in size from studios to three-bedroom, measuring anywhere from 600 square feet to 1,600 square feet. Additional features will include a landscaped pedestrian throughfare and a dog park.
According to city documents, building materials for the project include masonry, stucco, glazing, and “several frontage types.”
As designed by the Minneapolis-based ESG Architecture & Design, the project will also be built to appear compatible with the surrounding area via architectural detailing featuring a “variety of colors and materials that are respectful of and pay homage to the midcentury modern design vernacular of other nearby developments.”
Subtext Living was founded in 2013 and currently has up to $1.4 billion in residential projects in the pipeline. Its student housing projects are primarily located in the Midwest, although last year it completed an 827-bed project in Tempe.
The company currently has multi-family projects in development in Arizona, Colorado, Tennessee, and Utah.
