Chason Affinity Cos. has opened DC Heights, a 157-unit luxury community in downtown Chandler, Ariz. Chamberlin & Associates serves as the property’s manager.
According to Yardi Matrix data, the developer took out a $29.3 million HUD loan in 2020, originated by Greystone Servicing Corp., to finance the construction of the project. The loan amortizes on a 40-year schedule and matures in 2062.
The developer broke ground in early 2021. DC Heights comprises three buildings of three- and four-stories spread across 3.4 acres. The community features studios, one- and two-bedroom apartments, ranging between 511 and 1,166 square feet. All units have walk-in closets, hardwood floors, central air and heating, washers and dryers, all-electric kitchens, as well as patios or balconies. Common-area amenities include a swimming pool, package lockers, a 24-hour sports lounge and gym, a coffee bar, a park for pets and outdoor areas with grilling stations.
Located at 222 W. Boston St., the property is some 24 miles from downtown Phoenix. The surrounding area provides multiple retail and dining options, including The Home Depot, The Hidden House, The Perch Brewery and Thaily’s. Chandler Center for the Arts is less than 1 mile away.
According to a June report on the Phoenix multifamily market, developers brought online 3,159 units this year through April, and had an additional 3,320 units underway, of which the majority are slated for completion by the end of 2023.
