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Akara Partners Acquires Development Site in Phoenix for Mixed-Use Property

PHOENIX — Akara Partners has completed the purchase of a development site at 355 N. Central Ave. in downtown Phoenix. The buyer plans to develop Kenect Phoenix, a mixed-use residential and retail property, on the site.

Designed by Tempe, Ariz.-based RSP Architects and the Chicago office of Perkins + Will, the 23-story building will feature 320 residential apartments units and approximately 8,000 square feet of ground-floor retail space. The residential component will feature a mix of floor plans from studio to three-bedroom units.

On-site community amenities will include integrated furnishings with food and beverage options throughout the building, social and co-working lounges, fitness center, and a rooftop deck with a swimming pool, grills and fire pits.

The first apartments are slated for completion in fall 2019. Acquisition details were not released.

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