Risi Cos. to Develop 238-Unit Crystal Cove Multifamily Community in Avondale, Arizona
AVONDALE, ARIZ. — Risi Cos. has purchased 9.5 acres of land at 290 La Canada Blvd. in Avondale for $1.3 million, or $136,842 per acre. Earlier this month, Risi received approval to rezone the land from commercial to high-density residential, enabling the company to develop the Crystal Cove apartment community on the site.
Crystal Cove will feature 238 apartments in a mix of one-, two- and three-bedroom units. Additionally, the gated community will offer a clubhouse, swimming pool, 109 garages and additional covered parking for Avondale residents.
Larry Kush of Orion Investment Real Estate represented the sellers, Robert Delacour and Dianna Costa, while Zack Mishkin of Orion Investment Real Estate represented the buyer in the land sale transaction.