Tempe, AZ

High Street Residential Completes Construction on 310-Unit Smith & Rio in Arizona

The Tempe, Arizona Community is More than 50% Leased

October 3, 2023

Exterior rendering of the Smith & Rio residential community in Tempe, Arizona

Media Contact

Elise Maguire Ferrara

Senior Manager, U.S. Communications & Media

Photo of elise-maguire

High Street Residential (HSR), the residential subsidiary of Trammell Crow Company, has completed construction on Smith & Rio, a 310-unit residential community in Tempe, Arizona. Located in Tempe’s vibrant downtown, just south of the Loop 202 and west of the Loop 101 freeways, the five-story property’s mix of studio, one-, one-plus-den, and two-bedroom units are already more than halfway leased.

Smith & Rio offers residents a luxury living experience, with a curated collection of sought-after amenities that include a fifth-floor sky lounge; two outdoor courtyards; a dog park and a pet lounge; a large work-from-home area that includes ample individual workspaces; a resort-style pool and spa; a state-of-the-art fitness center; a fully amenitized clubhouse with multiple lounge and seating areas, a fireplace, and a demonstration kitchen; and water features throughout the outdoor spaces.

“Smith & Rio is an incredible property in the heart of downtown Tempe, walkable to the area’s best shopping, dining and entertainment options,” shared Mona Nanda with HSR Phoenix. “The property’s mountain views and intentional interior design are a major draw. The community features a mix of floorplans and features, including dedicated work-from-home alcoves in select units, large walk-through closets, and pet-friendly areas and amenities, allowing the property to meet the needs of a variety of residents. We are very pleased with the initial leasing activity and expect the remaining units to be leased quickly.”

Located at 1979 East Rio Salado Parkway, Smith & Rio is positioned walking distance from Tempe Marketplace and is near major tech employers, multiple outdoor walking and biking paths, as well as other popular dining and entertainment options in Tempe. The community is a 20-minute drive to Downtown Phoenix and 10 minutes from Phoenix Sky Harbor International Airport.

For leasing inquiries, visit smithandrio.com or email [email protected].

About High Street Residential

High Street Residential, the residential subsidiary of Trammell Crow Company, specializes in the development of multifamily housing. We have a deep background in urban, infill mixed-use residential development, as well as the redevelopment or repurposing of existing facilities. In the last 15 years, the firm has completed over $4 billion with a current pipeline of nearly 3,500 units. For more information, visit www.highstreetresidential.com.

Trammell Crow Company

Trammell Crow Company (TCC) is a global commercial real estate developer and wholly-owned subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas. Founded in 1948, TCC has developed or acquired nearly 2,900 buildings valued at $75 billion and over 655 million square feet. As of December 31, 2023, TCC had $15.8 billion of projects in process and $13.3 billion in its pipeline. It employs 650 professionals in 26 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial/logistics, healthcare, life sciences and mixed-use projects, as well as multi-family residential through its operating subsidiary High Street Residential. For more information visit www.TrammellCrow.com.