High Street Residential Breaks Ground on 310-Unit Multifamily Community Smith & Rio in Tempe, Arizona
July 15, 2021
High Street Residential, the residential subsidiary of Trammell Crow Company, has broken ground on Smith & Rio, a 310-unit residential community in Tempe, Arizona. The five-story property is situated on a 3.4-acre site located just south of the Loop 202 freeway and west of the Loop 101 freeway in a central city location within the sought-after North Tempe submarket, where there is a high concentration of walkable amenities, employment, and a large and talented labor pool. Construction is scheduled to be completed in 2023.
Smith & Rio will offer a mix of studio, one-, and two-bedroom units, including a selection of one-bedroom units with additional den/home office space. Residents will have access to an exclusive and robust amenity collection, including, 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 work spaces; a pool; a spa; a state-of-the-art fitness center; and water features throughout the outdoor spaces.
“Smith & Rio is situated in an increasingly popular and easily accessible location within the Phoenix area, close to Arizona State University and a growing base of corporate office users. Along with our partners, our team has designed the building with the preferences of these potential residents in mind, incorporating high-quality finishes and amenities, while also providing walkable access to nearby destination shopping, restaurants, sports and entertainment venues,” said Paul Tuchin, a Principal with High Street Residential’s Phoenix office.
Located at 1979 East Rio Salado Parkway, Smith & Rio is positioned directly across the street from the largest shopping destination in Tempe, the 1.3-million-square-foot Tempe Marketplace. The location is also complemented by a vast number of employment opportunities, including the highest concentration of tech companies in the state, outdoor walking and biking pathways, Tempe Town Lake activities and festivals, and many other attractions the city has to offer in close proximity. Smith & Rio is a 20-minute drive to Downtown Phoenix and 10 minutes from Phoenix Sky Harbor International Airport.
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 September 30, 2023, TCC had $15.4 billion of projects in process and $14.5 billion in its pipeline. It employs 650 professionals in 28 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.