Hines Breaks Ground on First Multifamily Property in Phoenix - Hines

Hines Breaks Ground on First Multifamily Property in Phoenix

Adeline to Offer Iconic Luxury in Downtown Phoenix

(PHOENIX) – Hines, the international real estate firm, announced today it has broken ground on Adeline, a 25-story, 379-unit luxury for-rent residential high-rise community at the Collier Center in downtown Phoenix. The new development is near Talking Stick Resort Arena and the new downtown Fry’s grocery store, and the site is one of the last parcels of land available for development in the heart of downtown Phoenix.

“Hines is thrilled to bring our luxury multifamily experience and design to Phoenix. Adeline’s location offers the city’s luxury lease residents unparalleled access to the best of downtown Phoenix’s transportation, entertainment and business,” said Chris Anderson, senior managing director and Arizona leader for Hines. “Inspired by one of the city’s first great female leaders, the Adeline project pays homage to an important leader in our history, while offering ultra-luxurious interior design with a cutting-edge style, world-class amenities for busy lifestyles and a downtown retreat at an expansive private park.”

The 480,000-square-foot building will be located at 222. E. Jefferson St. on 1.46 acres on the northwest corner of Jefferson and Third Streets, near two light rail stops – ideal for residents who want to enjoy the downtown lifestyle. The multifamily complex is expected to have 75 studio, 179 one-bedroom and 125 two-bedroom residences. Leasing prices haven’t been finalized yet.

Adeline will offer spectacular views with floor-to-ceiling windows. Plans call for the second floor, overlooking Jefferson Street, to have an outdoor junior Olympic-size swimming pool, a 2,800-square-foot fitness center, indoor great room with private and group seating, private conference areas and a community kitchen. Also, on the second floor, overlooking Third Street, will be elevated outdoor courtyards with an outdoor kitchen, firepits with group and private seating and landscaped gardens. Other amenities include a dog spa, bike storage, a coffee bar and concierge service located directly next to the main lobby on the street level. The street entrance on Jefferson Street will give residents the feeling of walking into a luxury hotel. In addition, the building will have about 4,500 square feet of retail or restaurant space on the street level at the corner of Jefferson Street and Third Street.

Three levels of underground parking currently exist at the site which will be used for resident parking. Hines will also renovate 10,000 square feet of existing office space and lease it.

Adeline will target professionals working in downtown Phoenix as well as residents who live in other parts of the Phoenix area who want to live in the evolving high-energy, amenity-rich center of downtown.

"The downtown population has doubled in the last five years and is expected to double again over the next five,” said Phoenix Mayor Kate Gallego. “Ensuring an adequate housing supply for new downtowners is crucial to ensuring our city’s success. Adeline will help residents make a home in our downtown.”

"Today, I'm proud of the smart growth in downtown,” said Phoenix Councilmember Michael Nowakowski. “Quality global companies such as Hines are seeing the opportunities here and making long-term investments. We are continuously building a city for the future."

“The skyline of downtown Phoenix is dramatically changing,” said Christine Mackay, director of the City of Phoenix’s Community and Economic Development Department. “Hines’ Adeline multifamily project is the first in a new series of high-rise towers that will remake what people think about downtown Phoenix. This project sets the new standard for appearance and quality amenities others will want to emulate.”

Construction is expected to finish in late 2020/early 2021. Leasing will begin in 2021. SmithGroup of Phoenix is the architect and Whiting-Turner of Phoenix is the general contractor.

Nationally, Hines’ multifamily portfolio includes 16,531 units in 48 projects in 31 cities across the U.S. Iconic multifamily properties include Aris Market Square in Houston, Wolf Point West in Chicago and CityCenterDC in Washington, D.C.

About Mary “Adeline” Norris Gray

Mary “Adeline” Norris Gray, who arrived in Phoenix in 1868 along a wagon train, is the inspiration behind the name of the property. Upon seeing the Salt River Valley’s lush grass and its existing irrigation system dating back to the prehistoric Hohokams, Adeline recognized opportunity in the Valley immediately. She convinced the group to settle in Phoenix versus heading onto California.

Adeline and her husband built the first mansion in Phoenix. It quickly became the region’s social hub, inclusive to the entire community. Births, weddings, funerals and dinner parties were commonplace at Adeline’s mansion. Adeline was instrumental in the building of Phoenix’s first school and church.

“Adeline Gray was one of Phoenix’s first female leaders,” said Marshall Shore, a local librarian and historian known as the “Hip Historian.” “Recognized for her own merits during the Victorian era when most women’s identities were eclipsed by their husband’s, Adeline was her own woman with her own ideas, opinions and dreams. She left a rich legacy of women deciding their own futures while improving their community in the process.”

About Hines

Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 219 cities in 23 countries. Hines has approximately $124.3 billion of assets under management, including $63.8 billion for which Hines provides fiduciary investment management services, and $60.5 billion for which Hines provides third-party property-level services. The firm has 148 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,362 properties, totaling over 449 million square feet. The firm’s current property and asset management portfolio includes 514 properties, representing over 222 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.

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