HSL Properties of Tucson has begun construction on two high-end luxury apartment complexes in Marana and Oro Valley. The Encantada at Steam Pump Ranch in Oro Valley will have 288-units and Encantada at Dove Mountain in Marana will be 272-units, for a combined sum of 560-units. Both include a clubhouse with movie theater, dog park and some unique recreation amenities such as resort-style heated pools and spas with ramadas, clubhouses with gourmet- kitchens, and professional gyms. Both properties will include a coffee house for the residents, with the stand-alone building in Oro Valley being independently owned and operated.
The Encantada at Steam Pump is located northwest of 1st Avenue and Oracle Road in Oro Valley, on 13 acres that HSL bought in May, 2012 for $3.3 million. The 288-unit luxury apartment complex will cost $34 million ($118,000 per unit) to build.
The Encantada at Dove Mountain site was purchased earlier, in 2011. HSL paid $3.8 million for the 19.95 acres at the northwest corner of Tangerine and Camino de Oeste in Marana. Justin Lanne of Newmark Grubb Knight Frank in Tucson handled the land acquisition for HSL.
Both properties will begin clubhouse leasing in August or September with first occupancy scheduled at the end of 2013 according to Omar Mireles, Executive Vice-President at HSL. Mireles said the permitting process with both Oro Valley and Marana Development Services was straightforward and they were pleased to go from permitting to ground-breaking in a matter of months.
HSL Properties, Inc. was established in 1975 and have since acquired, owned, operated and developed properties in Arizona, California, Colorado, Georgia, New Mexico, and Texas, and formed more than 100 limited partnerships and limited liability companies for conducting business.
HSL Construction Services, the construction arm of the business is the builder on all projects. HSL’s new northwest complexes will be similar to the 304-unit luxury apartment complex, Encantada Riverside Crossing, that was constructed in 2012 for $32 million.
HSL’s focus is primarily on multi-family apartment communities from its headquarters in Tucson, and is well known for multi-family housing throughout the Southwest. In 2010, HSL won the International Crime Free Owner of the Year Award.
Currently, HSL Properties owns and operates 41 apartment communities, with 32 in Tucson, 7 in Phoenix, 1 in Casa Grande, and 1 in Yuma. This amounts to approximately 10,000 units/families and over 7 million square-feet.
In 2002, HSL formed its Asset Management Company which provides effective site-management and resident services, making HSL a unique developer. The Asset Management Company has grown exponentially and now has more than 300 employees.
Mireles at HSL can be reached at (520) 322-6994 and Lanne is at (520) 321-3354.