Quarterra Multifamily Announces the Start of Leasing at Harwood Apartments
Quarterra Multifamily, a Lennar subsidiary, has begun leasing at Harwood, a 268-home luxury apartment community in North Phoenix. The strategically located development offers studio, one-, and two-bedroom units ranging from 524 to 1,312 square feet. Harwood boasts high-end finishes, smart home features, and extensive amenities including a resort-style pool, fitness center, and pet spa.
The community's location near Loop 101 provides excellent connectivity to major employers, top-rated schools, outdoor recreation areas, and popular retail and dining destinations. Harwood is Quarterra's sixth community in the Phoenix Metro Area, joining Muse, Nexa, Residences Kierland, Skywater, and Vitri.
Quarterra Multifamily, una sussidiaria di Lennar, ha iniziato a locare nel Harwood, una comunità di lusso con 268 appartamenti nel nord di Phoenix. Questo sviluppo, strategicamente situato, offre unità monolocali, bilocali e trilocali che vanno da 524 a 1.312 piedi quadrati. Harwood vanta finiture di alta gamma, caratteristiche per la casa intelligente e una vasta gamma di servizi tra cui una piscina in stile resort, un centro fitness e una spa per animali domestici.
La posizione della comunità vicino al Loop 101 fornisce un'eccellente connettività con i principali datori di lavoro, scuole di alto livello, aree ricreative all'aperto e richiesti punti di vendita e ristorazione. Harwood è la sesta comunità di Quarterra nell'area metropolitana di Phoenix, unendosi a Muse, Nexa, Residences Kierland, Skywater e Vitri.
Quarterra Multifamily, una subsidiaria de Lennar, ha comenzado a arrendar en Harwood, una comunidad de apartamentos de lujo con 268 viviendas en el norte de Phoenix. Este desarrollo, estratégicamente ubicado, ofrece unidades de estudio, de una y de dos habitaciones que van de 524 a 1,312 pies cuadrados. Harwood cuenta con acabados de alta gama, características de hogar inteligente y una amplia gama de comodidades, incluyendo una piscina estilo resort, un centro de fitness y un spa para mascotas.
La ubicación de la comunidad cerca del Loop 101 proporciona una excelente conectividad con los principales empleadores, escuelas de máxima calificación, áreas recreativas al aire libre, y destinos populares de comercio y restauración. Harwood es la sexta comunidad de Quarterra en el área metropolitana de Phoenix, junto a Muse, Nexa, Residences Kierland, Skywater y Vitri.
Quarterra Multifamily, Lennar의 자회사,는 북부 피닉스에 위치한 268세대의 고급 아파트 커뮤니티 Harwood의 임대 를 시작했습니다. 전략적으로 위치한 이 개발은 524에서 1,312 제곱피트까지의 스튜디오, 1베드룸, 2베드룸 유닛을 제공합니다. Harwood는 고급 마감재, 스마트 홈 기능과 리조트 스타일의 수영장, 피트니스 센터, 애완동물 스파 등 다양한 편의 시설을 자랑합니다.
커뮤니티는 Loop 101 근처에 위치하여 주요 고용주, 평판 좋은 학교, 야외 레크리에이션 공간 및 인기 있는 소매 및 식사 장소로의 훌륭한 연결성을 제공합니다. Harwood는 Quarterra의 피닉스 메트로 지역 내 여섯 번째 커뮤니티로, Muse, Nexa, Residences Kierland, Skywater 및 Vitri에 합류합니다.
Quarterra Multifamily, une filiale de Lennar, a commencé la location à Harwood, une communauté d'appartements de luxe de 268 résidences dans le nord de Phoenix. Ce développement, stratégiquement situé, propose des unités de studio, d'une et de deux chambres, allant de 524 à 1 312 pieds carrés. Harwood se distingue par ses finitions haut de gamme, ses fonctionnalités de maison intelligente et ses nombreuses commodités, y compris une piscine de style resort, un centre de fitness et un spa pour animaux.
La communauté est idéalement située près du Loop 101, offrant une excellente connectivité aux principaux employeurs, aux écoles de renom, aux espaces de loisirs en plein air et aux destinations de commerce et de restauration prisées. Harwood est la sixième communauté de Quarterra dans la région métropolitaine de Phoenix, rejoignant Muse, Nexa, Residences Kierland, Skywater et Vitri.
Quarterra Multifamily, eine Tochtergesellschaft von Lennar, hat mit der Vermietung im Harwood begonnen, einer luxuriösen Wohnungsgemeinschaft mit 268 Wohnungen im Norden von Phoenix. Die strategisch gelegene Entwicklung bietet Studio-, 1- und 2-Zimmer-Wohnungen mit Größen von 524 bis 1.312 Quadratfuß. Harwood bietet hochwertige Ausstattungen, Smart-Home-Features und umfangreiche Annehmlichkeiten, darunter einen Resort-Pool, ein Fitnesscenter und ein Haustierspa.
Die Lage der Gemeinschaft in der Nähe des Loop 101 sorgt für eine hervorragende Anbindung an wichtige Arbeitgeber, hoch bewertete Schulen, Freizeitanlagen im Freien sowie beliebte Einzelhandels- und Gastronomiestätten. Harwood ist die sechste Gemeinschaft von Quarterra im Phoenix-Metropolgebiet und reiht sich ein in Muse, Nexa, Residences Kierland, Skywater und Vitri.
- Launch of leasing at Harwood, a new 268-home luxury apartment community
- Strategic location near major highways and amenities in North Phoenix
- Proximity to top-rated schools and major employers
- Extensive amenities including resort-style pool, fitness center, and pet spa
- Expansion of Quarterra's presence in Phoenix Metro Area with sixth community
- None.
Insights
Quarterra Multifamily's launch of Harwood Apartments in North Phoenix represents a strategic move in the luxury multifamily housing market. The development's location near Loop 101 provides excellent connectivity, potentially boosting its appeal to a diverse tenant base. However, the timing of this launch amidst current market conditions warrants careful consideration.
Key points to note:
- The 268-unit development caters to various demographics, from single professionals to families, which could help mitigate vacancy risks.
- Proximity to high-ranking schools like Fireside Elementary (top
5% in Arizona) may attract families, potentially leading to longer-term tenancies. - The array of nearby amenities, including retail corridors and entertainment options, could justify premium rents.
- Access to major employers like American Express, USAA and Intel might ensure a steady demand from working professionals.
However, investors should be cautious. The luxury multifamily market can be sensitive to economic fluctuations. With potential economic headwinds, there's a risk of oversupply in the luxury segment, which could impact occupancy rates and rental yields. Additionally, the project's success will depend on its ability to differentiate itself in a competitive market, particularly given Quarterra's existing presence in the Phoenix Metro Area with five other communities.
The launch of Harwood Apartments by Quarterra Multifamily presents an intriguing case study in strategic positioning within the Phoenix multifamily market. Let's dissect the key elements:
- Location Strategy: The proximity to Loop 101 and major thoroughfares is a significant advantage, potentially attracting tenants who prioritize connectivity.
- Amenity Mix: The combination of outdoor recreation areas, top-rated schools and diverse entertainment options creates a compelling value proposition for potential residents.
- Target Demographics: By catering to a wide range of lifestyles - from outdoor enthusiasts to families - Harwood broadens its potential tenant pool, which could enhance occupancy stability.
However, the success of this development hinges on several market factors:
- Competitive Landscape: With five existing Quarterra communities in the Phoenix Metro Area, there's a risk of cannibalization within the company's portfolio.
- Pricing Strategy: The 'luxury' positioning must be carefully balanced against local income levels and competing offerings to ensure optimal absorption rates.
- Economic Resilience: The high-end amenities and finishes suggest a focus on the upper end of the market, which may be more vulnerable to economic downturns.
Investors should monitor occupancy rates, rental price trends and the performance of comparable properties in the area to gauge Harwood's market reception and long-term viability.
268-home luxury community creates ideal connectivity throughout
Harwood includes 268 upscale apartment homes that offer the ultimate in comfort and convenience. Its spacious, well-appointed homes feature top tier finishes, providing the perfect combination of style and functionality. In addition to its beautifully appointed apartments, Harwood also offers a superb suite of amenities catering to nearly every interest. The community is strategically located near interstate highways and major thoroughfares, providing seamless connectivity to all parts of the valley.
"Harwood is the perfect home base for almost every way of life, whether you're a single outdoor adventure seeker, retired couple or a young family," said Daniel Tilton, Senior Vice President of Development with Quarterra. "With access to recreation areas, top-rated schools and no less than 10 challenging golf courses nearby, Harwood's location at
Outdoor lovers will appreciate Harwood's proximity to Cave Buttes Recreation Area, Phoenix Mountain Preserve and a variety of other local recreation opportunities. Families will value the exceptional schools, including Fireside Elementary, ranked in the top
Harwood is surrounded by best-in-class restaurants, including Mastro's City Hall Steakhouse, Tommy V's Urban Kitchen & Bar, The Capital Grille, True Food Kitchen and RA Sushi Bar Restaurant. The nearby Desert Ridge and High Street retail corridors are both less than seven minutes away, featuring Flower Child, Yard House, Ocean Prime, Kona Grill and Keg Steakhouse. The high-end retail centers at Kierland and Scottsdale Quarter are also easily accessible. For entertainment, the Musical Instrument Museum, Desert Botanical Garden, Phoenix Zoo, Arizona Science Center and OdySea Aquarium all offer unique local outings in the broader
Situated at 2500 East Marco Polo Road, Harwood is only a two-minute drive from Loop 101 (Pima Freeway) which encircles the
Harwood includes a mix of studio, one- and two-bedroom apartment homes, ranging from 524 to 1,312 square feet. The modern homes include smart lighting controls, keyless entries and energy efficient HVAC with temperature controls. Kitchens feature pendant lighting and under-cabinet ambiance lighting, a stainless-steel appliance package, designer inspired ceramic tile backsplashes, undermount sinks with designer faucets and quartz countertops. Homes utilize luxury vinyl plank flooring throughout, with tile flooring and shower surrounds in bathrooms. Bedrooms are designed with expansive closets.
Residents of Harwood have access to a resort-style pool and spa courtyards with barbeque grilling stations. A comfortable resident lounge, state-of-the-art fitness center with outdoor terrace, pet spa and park, package lockers and package room, and EV charging stalls are all available for resident use.
Harwood is the sixth Quarterra community in the
About Quarterra
Quarterra Group, Inc., a wholly-owned subsidiary of Lennar Corporation (NYSE:LEN and LEN.B), is a multi-strategy, real estate focused, alternative asset management company. Launched in 2011, Quarterra Multifamily, previously known as LMC, is among the nation's most active developers, builders, and managers and has been on the National Multi-Housing Council's (NMHC) annual Top 50 list for nine consecutive years.
Quarterra creates extraordinary communities where people can live remarkably.
www.Quarterra.com
Media Contact
Marlena DeFalco
LinnellTaylor Marketing
303-682-3943
marlena@linnelltaylor.com
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