Global Real Estate Firm to Break Ground on Luxury Apartment Complex in Downtown Phoenix

Article originally posted on CoStar on January 8, 2020

The 379-unit Adeline luxury apartment complex in Phoenix will be near the new downtown Fry’s grocery store. (Hines)

International real estate firm Hines plans to break ground later this month on Adeline, its first multifamily property in Phoenix.

Plans for the 379-unit luxury apartment complex include an urban courtyard, junior Olympic-size swimming pool and clubhouse. The 1.5-acre lot at 201 E. Jefferson St. is near Talking Stick Resort Arena and the new downtown Fry’s grocery store.

Chris Anderson, senior managing director and Arizona leader for Hines, said in a statement, “Hines has a long tradition of developing iconic luxury multifamily properties across the country. We are building on that expertise to develop Adeline, which will offer unparalleled luxury in Phoenix.”

Headquartered in Houston, Hines has developed, redeveloped or acquired 1,362 properties, totaling over 449 million square feet, since its launch in 1957, according to its website. The global real estate firm’s current property and asset management portfolio includes 514 properties, representing more than 222 million square feet.

The project is slated to be completed in the fourth quarter of 2022.