McKinley Row is a new 18-unit townhome development located at the northwest corner of 4th Avenue and McKinley Street in the historic Roosevelt District of downtown Phoenix, Arizona. The unit mix will consist of seventeen, 1,770 square foot, 2 bed x 2.5 bath townhomes, and one, 2,191 square foot, 2 bed x 2.5 bath corner unit. The townhomes also feature 2-car garages and a first floor studio/office.
Total project cost is projected to be $6,317,523, which is inclusive of hard and soft costs. The loan amount of $4,500,000 secured by Tower Capital represents approximately 71% LTC.
Metrowest Development is a Chicago and Phoenix based development company specializing in for sale townhomes, as well as apartment rental communities. The company has focused its development efforts in the historic Roosevelt District of downtown Phoenix, where one of its partners has had a strong presence in the community there since the 1990’s.
