PRE-TCO OPPORTUNITY ZONE OFFERING
Deer Valley 24 by Emery Lane is a brand new, 24-unit apartment
project, finishing late 2023 / early 2024. The property is located in
the incredibly active Deer Valley submarket in North Phoenix where
the massive TSMC chip facility is under development. Approximately 8
miles away, TSMC project is one of the most newsworthy commercial
projects in the nation with an estimated $40 billion investment which
is one of the largest foreign outlays in US history. In addition to
the more than 10,000 construction workers linked to the site, TSMC
Arizona's projects are expected to create an additional 10,000
high-paying high-tech jobs, including 4,500 direct TSMC jobs. Deer
Valley 24 is also about a mile away from the Deer Valley Airport and
industrial hub. Other major employers and retail in the area include;
HonorHeath Medical Center, Costco, and the massive Deer Valley Town
Center (Target, AMC Theaters, Michaels, etc.), all approximately a
mile away. This location is as strong as it gets and allows residents to
enjoy, with ease, so much of what all parts of Phoenix have to offer.
With many dining, shopping, entertainment, and employment options,
as well as multiple freeway access points within minutes, this property
should prove to be a phenomenal investment opportunity.
Deer Valley 24 by Emery Lane features 24 well-planned, large units
in one of the best submarkets in the Valley. The project features a
good unit mix of (20) 1,150 SF 2-bed / 2-bath units and (4) 1,250 SF
3-bed / 2-bath units. The units are all large and feel like single family
residences with modern floor plans. Each unit has an interior washer
/ dryer and is individually metered for electricity. This project offers
a rare, bite-sized, new-build in an extremely hot submarket. With the
amount of employment (existing and new employment growth) in the
area as well as the lack of new apartment development coming online
in the near term in this submarket, Deer Valley 24 should lease up
quickly and have strong occupancy into the future.
Deer Valley 24 by Emery Lane is situated within an Arizona
Opportunity Zone. The project has not yet received its temporary
or final certificate of occupancy, so an investor may purchase the
property Pre-TCO and potentially take advantage of the tax benefits
allowed within the Opportunity Zone, if so desired.