PLYMOUTH MEETING, Pa. – Sept. 18, 2024 – AVE, the residential real estate brand of Korman Communities, in partnership with RXR, today announces the opening date of AVE Paradise Valley (12400 North Tatum Boulevard), a new elevated apartment community located in the reimagined Paradise Valley Mall development. The property will open on Nov. 15, 2024, and is now accepting applications. The state-of-the-art, mid-rise building will be the first residential project to launch within the 100-plus-acre site.
“Following the success of our communities in Downtown Phoenix – AVE Terra and AVE Sky – we are eager to increase our Arizona footprint with the addition of AVE Paradise Valley. This expansion is a natural progression for us, especially given the significant population growth in the state over the past 10 years,” said President of AVE and COO of Korman Communities, Lea Anne Welsh. “We are thrilled to pioneer a new level of luxury living at the exciting, reimagined Paradise Valley Mall development, providing a completely unparalleled living experience at the center of Arizona’s newest, most desirable district. With shopping, dining and entertainment, residents will be in the heart of a vibrant hub for work, life and play.”
Apartments
Designed by Nelsen Partners and StreetLights Construction, AVE’s newest community will offer 400 luxury apartments, including traditional apartment rentals and fully furnished apartments with flexible lease options. Units span three and four stories of the mid-rise development, averaging 1,056 square feet. A wide range of apartments will be available, including studios starting at $1,664, one-bedrooms at $2,122, two-bedrooms at $3,275, and offered at a later date, three-bedrooms at $5,327.
Amenities
AVE Paradise Valley will feature a high-touch, dedicated service team, along with 36,200 square feet of indoor/outdoor amenity space. Highlights include a dazzling resort-style swimming pool; full-service on-site bar; state-of-the-art fitness center; pet parlor with spa, lounge and dog park; electric vehicle charging stations; and several outdoor courtyards with firepit lounges. Residents will also enjoy direct access to an on-site Whole Foods, as well as a plethora of walkable shopping and dining destinations, such as Sephora, Flower Child and Federal Pizza, plus three acres of open space with landscaped pathways.
Location
The property is conveniently located 10 minutes away from Scottsdale Airpark and 25 minutes from Phoenix Sky Harbor International Airport. Residents also have easy access to high-end shopping, dining, golf courses, hiking, biking, art and sports, all within 30 minutes or less of the building by car.
"AVE Paradise Valley, a new 400-unit, state-of-the-art apartment community, marks the latest addition in RXR's national expansion, in partnership with Korman Communities. Featuring smartly designed apartments, an unbeatable location, and AVE’s renowned level of service, AVE Paradise Valley is perfectly positioned in one of the nation's most sought-after markets,” stated Whitney Arcaro, Chief Revenue Officer- Residential at RXR.
AVE Paradise Valley is now leasing for first move-ins on Nov. 15. For more information and to submit an application, visit https://www.aveliving.com/locations/phoenix-az/paradise-valley.
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About AVE and Korman Communities
Korman Communities is a fully integrated, fifth-generation, 100-year-old real estate investment and property management company with nearly 40 properties across the United States and London. AVE specializes in elevated apartment living for discerning renters and individuals seeking a flexible living solution for business or personal lifestyle. AVE conveniently offers traditional unfurnished apartments along with fully furnished apartments with flexible lease options. Each community features a dedicated service team and unparalleled business, wellness, and entertainment amenities such as flex workspaces with gigabit Wi-Fi; resort pools; firepit lounges; 24-hour, state-of-the-art fitness centers; wellness classes; bike share; tranquility gardens; pet spas and parks; media theaters; and outdoor gaming and recreation. Ranked the No. 1 property management company in the U.S. based on renter satisfaction in 2023 and 2024, AVE provides comfort and seamless living for those who want to LIVE BETTER™. www.aveliving.com.
Coming soon: AVE Hamilton Green (White Plains, NY: Winter 2024-2025); AVE Santa Clara (California: Winter 2024); AVE Navy Yard (Philadelphia, PA: Summer 2025).
About RXR
RXR is an innovative real estate investment manager, operator, developer, and place-maker committed to applying a customer and community-centered approach to acquiring, operating, and building properties and to providing services and products that create enduring value for all stakeholders. Headquartered in New York with a nationally scaled platform, RXR is an approximately 450-person, vertically integrated investment manager with expertise in a wide array of value creation activities, including acquisitions, asset and portfolio management, property operations, development, construction, leasing, and technological innovation. RXR is an active investor in real estate credit, rental housing, commercial property, and property technology through value-added and opportunistic investment strategies. The RXR platform manages 107 commercial real estate properties and investments with an aggregate gross asset value of approximately $17.1 billion, comprising approximately 30.5 million square feet of commercial properties, a multi-family residential portfolio of approximately 9,800 units under operation or development, and control of development rights for an additional approximately 3,000 multi-family and for sale units as of June 30, 2024. Gross asset value compiled by RXR in accordance with company fair value measurement policy and is comprised of capital invested by RXR and its partners, as well as leverage.
Media Contact
Jenna Koeble | Michelle Kelly
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