Scottsdale-based Mark-Taylor is joining forces with national apartment developer Archstone to build a 388-unit community dubbed San Norterra near the intersection of Norterra Parkway and North Valley Parkway in North Phoenix.
The joint venture has broken ground on the 19-acre development site, which Mark-Taylor purchased in 2007. The first units are scheduled to be delivered in November with the community completed in late 2013.
This will be the 23rd apartment community that Mark-Taylor and Archstone have developed together during the past 21 years.
It’s located near the corporate campuses of insurance giant USAA and medical device manufacturer W.L. Gore.
“The demand for residential housing in the North Phoenix submarket is on the rise as the area continues to grow,” said Eric Buchanan, Archstone’s vice president of development for the Phoenix market.