Canadian Investor Expands Portfolio of Arizona Assets with Acquisition

Phoenix, Arizona – The Verde Dimora Apartments at 2217 N. Power Rd. in Mesa have been sold to a Canadian investor for $22,250,000.  The buyer is expanding its portfolio of Arizona properties and plans long-term ownership of the community.

“This is a very unique asset in both its location and its design,” says Trevor Koskovich, executive vice president with Colliers International in Greater Phoenix.  “Verde Dimora is an A+ property of nearly new construction in the growing suburb of East Mesa.  The property offers an incredible abundance of amenities, as well as Eco-Friendly utilities and design.”

WWC Holdings, LLC of Arizona purchased the property from Verde Dimora, LLC, an Arizona limited liability company.  Koskovich, Bill Hahn and Jeff Sherman of Colliers International in Greater Phoenix negotiated the sale transaction.

Verde Dimora was built in 2016 and consists of 12 three-story buildings.  The community contains 153 apartment units in one and two-bedroom configurations.  The units range in size from 657 to 943 square feet.  The property offers a total of 121,399 rentable square feet on a parcel that is 5.34 acres.  The community offers both covered carport and uncovered parking spaces.

Apartments feature Energy Star appliances, Low-E Pane windows, private patios and sub-metered water/sewer/trash.  The sub-metering allows managers and occupants to track individual tenant usage in real time, lowering costs and increasing efficiency.

The community offers unparalleled amenities that go well beyond a clubhouse and heated resort-style pool and spa.  In addition, Verde Dimora offers community garden plots, a dog park with wash station, electric vehicle charging stations, enclosed bike storage, theater room, urban trails and a dedicated Veteran’s Community Room.  The community also features solar panel technology, meditation gardens with a stream, community-wide recycling program and an extensive fitness center.

Situated to the north of McKellips Road, Verde Dimora is close to a variety of retail centers, service centers and restaurants.  Access to the Red Mountain Freeway (202) is available via McKellips Road and Power Road to the north.  Both access points are less than one mile from the property.  The community is directly across the street from Mesa Community College – Red Mountain Campus.  In addition to retail and school offerings nearby, the City of Mesa has created a strong park and recreational system nearby in Spook Hill Park and Red Mountain Park, less than one mile from Verde Dimora.

AZ Central is reporting an aggressive effort to attract smaller, innovative businesses that would renovate existing buildings for new uses throughout Mesa is headed to the City Council for consideration.

The goal of the Adaptive Reuse Program is to promote and add incentives for repurposing existing structures, including expansions, and make it easier for business to do business in Mesa, said Angelica Guevara of Mesa’s Development and Sustainability office.

Mesa provides many, but not all, services typical of such programs in other cities, including Phoenix, Tempe and Chandler.

Guevara has researched ways to organize the program to offer incentives to provide regulatory relief, clearer guidance and streamline approvals.

“We have actually, as a city, been doing a lot of that over the last several years without wrapping it up and putting a big bow on it,” Christine Zielonka, director of development services in the Development and Sustainability office, said to a city committee comprised of council members Kevin Thompson, Chris Glover and Alex Finter on June 20.

Examples included the Santander Consumer USA building on Southern Avenue, formerly a vacant commercial shopping center, and Benedictine University in downtown Mesa.

Benefits to having an adaptive use program, Guevara said, include attracting smaller businesses into existing buildings, creating jobs and sales tax revenue and stimulating redevelopment near the structure.

She acknowledged, however, that it can be challenging for business owners to remodel a vacant, possibly dilapidated building if it was built under an old code. That can make it more expensive and time-consuming for owners to ensure the building or its addition meets current standards.

During the presentation, Development and Sustainability office officials highlighted a few elements of other programs that Mesa does not offer, including:

Phoenix

• The Planning and Development Department includes an Office of Customer Advocacy, which Finter said of Mesa should have funded years ago.
• The city prioritizes adaptive reuse projects when processing historic preservation zoning applications in the program, expediting building permit review.
• Existing utility lines crossing property lines are allowed to remain.

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Phoenix, AZ – The Arizona component of The American Institute of Architects announced the 2015 Design Award Winners, recognizing excellence in design, planning and construction of projects designed by AIA Arizona architects registered and licensed in the State of Arizona. Selected from 93 submissions, 28 recipients were recently honored at The Phoenix Art Museum.

The award recipients were chosen by a distinguished group of architects from San Francisco. The jury was chaired by Rosa Sheng, AIA; David Baker, FAIA; Joshua Aidlin, AIA and Dominique Price, AIA.

There are three levels of recognition: Honor, Merit and Citation. An Honor Award is the most prestigious, followed by Merit and Citation. The recipients are listed below. (see attached photos labeled with project name).

2015 AIA Arizona Award Winners

2015 Urban & Regional Planning – Honor Award
According to the jury, “The curious and captivating organic form is a convincing anchor for the new city center. The renderings evoke a futuristic spirit, combined with a familiar, humane scale. The balance of green and hardscape creates a desirable “there” factor, a magnet for various scales of engagement and civic activity.”

• Project Mesa City Center
• Design Team Colwell Shelor, West 8, WEDDLE GILMORE black rock studio
• Owner City of Mesa

2015 Interior Architecture – Honor Award
The jury commented on this project: “Manifesting culture and purpose in the physical environment; well executed in a clean, transparent manner with great attention to detail that is subtle but clearly shows a deference to the shutterfly in 3D. The celebration of raw exposed concrete is refined with the window wall and custom wood frames, the organized exposed conduit and ducting, the minimal glass cubes that form various meeting rooms – give cause for a 2nd or 3rd look, picking up new details and appreciation for craft each time.”

• Project VCSO
• Architect debartolo architects
• Owner visual supply company
• Contractor flory construction

2015 Distinguished Building – Honor Award
Of this historic ASU landmark, the jury commented: “A clever and sophisticated modernization of this landmark that strengthens the legacy of this celebrated structure. The set back of the new exterior panelized curtain wall behind the triangular frames to leverage the energy performance and increased connection between residents and exterior views is brilliant. And the reconfiguration of the approach by raising the landscape to meet the entry and creative adjustments to the interior living spaces to foster community and social interaction are elegantly executed.”

• Project Manzanita Hall Renovation
• Architect Studio Ma, Inc.
• Associate Architect Solomon Cordwell Buenz
• Owner Arizona State University, The Arizona Board of Regents, American Campus Communities
• Contractor hardison/downey construction inc.

2015 Distinguished Building – Honor Award
The jury said, “This project is the whole package. Aesthetically – The skillful marriage of old and new “west” culture – there is discerning restraint in the execution of refined forms and respectful use of regional materials. Sustainability – Thoughtful biomimetic investigation and re-interpretation of regional influences and materials – from the water capturing ribs of the cacti structure, to the practical craft of Native American basket weave reinterpreted as a facade that provides structural form, shade and lightness. Cost Responsibility – Proving that good design can be affordable.”

• Project Scottsdale Museum of the West
• Architect Studio Ma, Inc.
• Associate Architect Cawley Architects
• Owner City of Scottsdale
• Contractor CORE Construction + LGE Design Build

2015 Distinguished Building – Honor Award
The jury commented: “While the program itself may be provocative of the current political discourse, the thoughtful layering of circulation scales between pedestrians and autos responds to the multi-functional demands of high efficiency and security. The oasis of green buffer infuses humanity, a dignified sense of place for respite. The use of glass and perforated screens enhances indoor connection to natural light and views, while integrating highly sustainable features.”

• Project: Mariposa Land Port of Entry Expansion and Modernization
• Architect Jones Studio, Inc.
• Owner S. General Services Administration
• Contractor Hensel Phelps

2015 Distinguished Building – Honor Award
Describing the project, the jury said: “A transformation of ordinary everyday architecture – a “rental property” into an extraordinary value proposition; combining artisanal attention to craft & detail while also being strategically thrifty brings quality “design within reach” to a younger clientele.

• Project White Stone Studios
• Design Architect Benjamin Hall Design
• Record Architect 180 degrees inc.
• Owner ABT Properties LLC
• Contractor collaboration between 180 degrees inc. and Benjamin Hall Design

2015 Unbuilt Award – Merit Award

• Project Desert Bridge Residence
• Architect Chen + Suchart Studio                                
• Owner Scott and Irene McMurray
• Contractor David Mikes              

2015 Unbuilt Award – Merit Award

• Project Portal Spas
• Architect WORKSBUREAU
• Owner Al Ra’ldah Investment Company

2015 Unbuilt Award – Merit Award

• Project RCCA Gridshell
• Architect Christopher D. Trumble                             
• Owner Ross Creek Centre for the Arts

2015 Distinguished Building – Merit Award

• Project bicycle haüs
• Architect debartolo architects
• Owner bicycle haüs
• Contractor j. gurley

2015 Distinguished Building – Merit Award

• Project Hashen Kehk Community Center
• Architect Orcutt | Winslow
• Owner Gila River Indian Community District 2
• Contractor Arviso Okland Construction

2015 Distinguished Building – Merit Award

• Project College Avenue Commons
• Architect Gensler | Architekton
• Owner Arizona State University
• Contractor Okland Construction

2015 Urban & Regional Planning – Citation Award

• Project Hance Park Master Plan
• Design Team Weddle Gilmore, black rock studio, !melk Landscape Architecture, Floor Associates
• Owner City of Phoenix

2015 Interior Architecture – Citation Award

• Project 3256 Interior Renovation
• Architect Chen + Suchart Studio                                
• Owner Scott Mancuso and Rie Takahata
• Contractor Verge Design:Build

2015 Interior Architecture – Citation Award

• Project Falora
• Architect repp + mclain design and construction
• Owner Ari Shapiro
• Contractor repp + mclain design and construction

2015 Interior Architecture – Citation Award

• Project Reforma Cocina y Cantina
• Architect repp + mclain design and construction
• Owner Grant Krueger & Steve Stratigouleas Reforma LLC
• Contractor repp + mclain design and construction

2015 Distinguished Building – Citation Award

• Project Sun Devil Fitness Complex
• Architect Studio Ma, Inc.
• Associate Architect Sasaki Associates
• Owner: Arizona State University and The Arizona Board of Regents
• Contractor Gilbane Building Company

2015 Distinguished Building – Citation Award

• Project AzCA Playground
• Architect Christopher D. Trumble
• Owner Arizona’s Children Association
• Contractor Drachman Design-Build Coalition, Inc.

2015 Distinguished Building – Citation Award

• Project Farmer Studios II
• Architect Architekton
• Owner Architekton
• Contractor Bistany Architecture & Construction

2015 Distinguished Building – Citation Award

• Project Yerger Residence
• Architect Chen + Suchart Studio
• Owner Fred & Michelle Yerger
• Contractor Creative Concrete and Masonry

Arizona Public Service & Salt River Project 2015 Energy/Sustainable Award

• Project: Integrated Education Building at GateWay Community College
• Architect SmithGroupJJR
• Owner Maricopa County Community College District
• Contractor CORE Construction

2015 Goodwin Award

• Project: Lew Wolff Training Complex at Fitch Park Addition + Renovation
• Architect: Gensler
• Owner: City of Mesa
• Contractor: W E O’Neil Construction

2015 Goodwin Award

• Project: Arizona State University College Avenue Commons
• Architect: Gensler | Architekton
• Owner: Arizona State University
• CMAR: Okland Construction

2015 Twenty-Five Year Award

• Project: Arroyo House
• Architect: Line and Space, LLC

2015 Associate Award
Doug Nielsen, Associate AIA

2015 AIA10 Award
Dan Clevenger, AIA

2015 Educator Award
John Meunier, AIA

2015 AIA Arizona College of Fellows Chairman’s Award
Patrick Panetta, AIA

For more information, visit www.aia.org/awards and www.aia-arizona.org/calendar/design-awards.