SCOTTSVILLE, AZ – Knightvest Capital, a vertically integrated multifamily investment firm, announced the acquisition of the Avana Desert View community in Scottsdale, Arizona. This successful close represents the eighth investment in Knightvest’s Fund II, which remains open to new investors through 2025. The acquisition brings Knightvest’s total footprint in the Phoenix metropolitan area to over 5,000 units owned and managed, reinforcing the company’s continued expansion across high-growth Sun Belt markets.
Built in 1996, the 412-unit garden-style apartment community is situated in one of the most desirable submarkets of the Phoenix metro area, offering residents access to top-ranked schools, major employment hubs, and premier lifestyle destinations. The community features resort-style amenities and a highly sought-after Scottsdale address, making it a compelling addition to Knightvest’s portfolio.
As part of its proven value-add strategy, Knightvest plans to enhance Avana Desert View with substantial renovations. Plotted improvements include modernizing unit interiors, refreshing common areas, and upgrading community amenities.
“Scottsdale represents one of the most economically dynamic submarkets in the Southwest, and Avana Desert View is a perfect example of the type of asset we target: well-located, high-quality communities with opportunity for value creation,” said David Moore, Knightvest founder and CEO. “With this acquisition, we see a tremendous opportunity to apply our winning playbook to enhance the resident experience and deliver dependable, long-term returns for our investors.”
The Phoenix metropolitan area continues to attract new residents and employers, driven by strong job growth in sectors such as technology, healthcare, and finance. Knightvest’s investment in Scottsdale is a strategic go to deepen its presence in a high-demand market poised for continued expansion.

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JACKSONVILLE, FL – FaverGray, a leading general contractor specializing in multifamily and mixed-use developments, announced the groundbreaking of N4, a new luxury apartment community located at 715 Clay Street in downtown Jacksonville, Florida.
Developed in partnership with Gateway Jax, N4 marks the second phase of development in the Pearl Square district, following the successful start of N11, located directly across the street and currently under construction. This project also represents FaverGray’s second collaboration with Gateway Jax, reinforcing a strong partnership and shared vision for the transformation of downtown Jacksonville.
The N4 project will transform a 1.27-acre site into a seven-tale mixed-use development featuring 286 luxury apartment units and approximately 20,000 square feet of ground-floor retail space across five bays.
“This project represents a pivotal moment in the continued revitalization of downtown Jacksonville,” said Ben Hinson, Executive Vice President at FaverGray. “We’re proud to be building our second project for Gateway Jax and to support their long-term vision by bringing new housing and retail to this growing district. It’s a meaningful opportunity to contribute to the city’s forward momentum.”
John Kitchens, Division Leader at FaverGray, added: “Our team is honored to be part of Gateway Jax’s ongoing development efforts. With each project, we continue to build not just structures, but lasting relationships and impactful contributions to Jacksonville’s future.”
Located within the vibrant Pearl Square neighborhood, the N4 community is surrounded by green space, bike trails, a revitalized waterfront, and festival-ready streets. Plotted resident amenities includes: A modern fitness center; multi-use club room with a theater, lounge, and venue; and two-level integrated parking garage.
N4 will feature concrete podium construction for flood resiliency, transitioning to wood framing on upper levels. The first two floors will be constructed of post-tensioned concrete, and the building exterior will be finished with fiber cement siding and stone accents for a sleek, urban appearance.
The site development scope includes utility connections, hardscape, landscaping, irrigation, asphalt paving, concrete sidewalks, and public realm enhancements that reflect Pearl Square’s long-term urban design plot.

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ATLANTA, GA – ECI Group (ECI), with joint venture partner Phoenix Capital, recently celebrated the grand opening of the $101 million luxury apartment development Averly East Village, in the rapidly growing northern Atlanta city of Roswell near Alpharetta, GA. ECI leaders and team members were joined by Morgan Pierce from economic development organization, Roswell, Inc., to celebrate the opening of the redeveloped centerpiece of the East Roswell community.
ECI Development Vice President, Stephen Stover noted, “The Averly East Village, our first Averly-branded luxury apartment development to deliver, has reinvigorated the East Village center that now features Five Guys, Zama Mexican Cuisine, Panda Express, amongst others. The strong response from residents has validated our choice to build a heavily amenitized community with top-of-market apartment finishes. We also appreciate the cooperation and help from our neighbors, capital partners, and the project team to bring this community to life.”
The opening celebration, held on May 22nd, celebrated the Averly brand colors of teal and charcoal in a ‘Blue Retro’ themed party, complete with a live peacock showing shimmering shades of blues, a branded wall, and a bar featuring vibrant color-themed cocktails.
Averly East Village includes 335 one-, two-, and three-bedroom apartments as part of the larger East Village mixed-use development. The community features resort-quality landscaping, architecture, and interior finishes.

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