Downtown Phoenix's warehouse district is getting new apartments.
Developer Wood Partners has paid $6 million for a 7.3-acre site at 6th Avenue and Lincoln Street, where it’s planning a complex called Alta Warehouse with 300 apartments.
The developer has built three other Alta apartment complexes in central Phoenix.
“The Warehouse District has become a central hub for technology and innovation companies in the Phoenix area, and one of the major drivers in downtown’s emergence as a top draw,” said John Klocek, who brokered the deal with Patrick Burch. Both are with Phoenix-based ABI Multifamily.
The warehouse district, on the southern side of downtown Phoenix, spans from Jackson Street south to Grant Street and 7th Street west to 7th Avenue.
Many apartment and condominium projects were recently constructed or are underway in downtown Phoenix. But the Alta project is one of the first big apartment projects for the warehouse district.
The warehouse area has drawn several tech and other office tenants, galleries, music venues and restaurants during the past few years.
Information on rents and an opening date at Alta Warehouse aren’t yet available.
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