$9.3 Million Land Sale

In a significant transaction, Marcus & Millichap facilitated the sale of a 17.89-acre parcel of land in Buckeye, Arizona. The property, adjacent to Summit Community Church’s campus, was sold for $9.3 million. The buyer, Highstreet Ventures Inc., plans to develop 510 multifamily rental units, addressing the soaring demand for housing in this burgeoning West Valley market.

What The Sale Means For Buckeye

This deal highlights Buckeye’s rapid growth as a hotspot for Arizona real estate development. Highstreet Ventures, a Canadian firm, aims to create a modern, sustainable community designed to meet the needs of Buckeye’s expanding population.

• Location: Adjacent to Summit Community Church on Roosevelt Street.
• Size: 17.89 acres, part of the Landing Specific Area Plan.
• Price: $9,300,000.
• Planned Units: 144 studios, 150 one-bedroom, and 216 two-bedroom apartments.
• Amenities: Clubhouse and pool, focusing on community living.

The development's zero-carbon footprint initiative reflects a growing trend toward sustainability in real estate, promising to set a precedent for future projects in Greater Phoenix.

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Highstreet Ventures’ Vision For The Project

Highstreet Ventures plans to collaborate with Lean Built by Elevate Construction to bring their first net-positive, zero-carbon community to Metro Phoenix. The project is positioned to enhance Buckeye’s appeal as a hub for recreation, work, and lifestyle opportunities.

• Sustainability Focus: Zero carbon emissions.
• Partner: Lean Built by Elevate Construction.
• Design: Up to three stories, blending urban style with sustainable living.
• Community Impact: Addresses housing shortages in a fast-growing employment corridor.

The project aligns with the Landing Specific Area Plan, which envisions the area as a premier destination for living, working, and entertainment in the West Valley.

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Buckeye’s Rising Momentum

Buckeye continues to attract attention with developments like the $275 million Verrado Marketplace breaking ground nearby. These large-scale investments are transforming the city into a thriving economic and residential center.

This latest transaction underscores the area’s appeal for investors and developers, solidifying Buckeye’s place as a key player in Greater Phoenix’s growth story. The new multifamily project not only promises modern living spaces but also reinforces the city’s commitment to sustainability and innovation.

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