MARANA, ARIZONA -- An affiliate of MC Companies (Ross McCallister, principal), Silverbell Gateway Apartments, purchased 14.4 acres at 7300 N Silverbell Road, in Marana for $2.55 million ($4.07 PSF) from Prestwick Properties of Tucson (Douglas Kennedy, manager).
The development team of MC Companies is excited about this new opportunity to build luxury apartments and grow their existing portfolio. The town of Marana is fast growing, and this offering will add to the much-needed mix of luxury apartment homes for residents that rent by choice for the convenience and modern amenities that this demographic has come to expect.
This area has undergone much development in the past few years with new parks and connectivity to the Tortolita Mountain trail system. The Town has also made significant investments in the functionality of the Ina commercial area. The Ina Road Beautification project makes this location even more appealing to residents in the area. The project includes new asphalt pavement, fresh landscaping in the right of way, new street lights, sidewalks, accessibility ramps and fiber optic cables.
MC Companies plans 300 luxury apartment homes with large floorplans at an average square footage of 1,070-square-feet and six unique floorplans. Each home will be designed with upscale finishes and include hard surface flooring, granite counter tops and designer lighting packages. The proposed amenities will be best in class for new apartments, similar in luxury as the Award winning The Place at Riverwalk Apartments at Craycroft and River in Tucson. After two years of great success and winning it was awarded the Best Community Design Award at the 2020 AMA Tribute Awards recently.
The Management team of MC Companies will professionally manage this newest community adding to their current portfolio of 6,000 apartment homes.
The transaction was Principal to Principal and construction is estimated to start in Jan with 19 months to first delivery.
To learn more, see RED Comp #8155.