MESA, ARIZ., AND DENVER — StarPoint Properties is developing two Opportunity Zone projects totaling $115 million. StarPoint has started vertical construction on Lotus Point, a $79.2 million multifamily development in Mesa, and Point Central, a $36.7 million industrial project in Denver.
Located at 139 N. Dobson Road, the four-story Lotus Point will offer 245 apartments. The community will benefit from a property tax abatement agreement with the City of Mesa for eight years after construction, which will generate significant property tax savings.
Point Central, located at 1051 and 1161 E. 73rd Ave. in Denver, will offer 157,473 rentable square feet split across two industrial buildings with access to Denver’s major highways.
Completion of both properties is slated for 2025. StarPoint expects Lotus Point to be stabilized by fourth-quarter 2025 and Point Central by the second quarter of 2025.