The answer to the Blue on 11th and 12th
Florida developer gearing up for new downtown Phoenix apartments on Washington Street
The Phoenix City Council could give the go-ahead later today to a Florida developer’s plans for 292 new apartments in downtown Phoenix.
Winter Park, Florida-based Epoch Properties wants to develop two apartment complexes called 11 Capital Place and 12 Capital Place just east of downtown near Washington, 11th and 12th streets.
Epoch bought the parcels earlier this year from Phoenix developer Mike Lafferty for $8.1 million.
Lafferty previously wanted to build an 11-story mixed-use building at 12th and Washington, to be called the Blue on 12th Street. That project faced some community opposition and never got off the ground.
Now, Epoch is looking at two four-story apartments buildings on the parcels. There are some similar existing apartment complexes in the vicinity.
The council is considering actions on the Capital Place plans at its meeting Wednesday evening. Epoch could start construction soon after the city approvals.
Across the Phoenix area there were close to 22,900 apartment units under construction or in the pipeline during the first quarter, according to Kasten Long Commercial Group.
Epoch already owns 914 units in Arizona with five complexes in Tucson and one in Mesa. Epoch executives were not avaiable for comment.