The NRP Group Breaks Ground on 288-Unit Desert Sky Affordable Housing Community in Fastest-Growing West Phoenix Metro Market

PHOENIX, AZ – The NRP Group, a vertically integrated, best-in-class developer, builder and manager of multifamily housing, in partnership with the city of Phoenix, announced the financial closing and groundbreaking of Desert Sky, a 288-unit affordable housing community in West Phoenix. Half of the units are reserved for families earning up to 80% of the area median income, providing thoughtfully designed housing in one of the fastest-growing cities in the U.S.
Phoenix continues to rank among the fastest-growing metro areas in the country, with strong population growth and a thriving job market driving demand for quality rental housing, said Chris O Neill, Executive Vice President of Development at The NRP Group. Desert Sky reflects our commitment to this market and provides thoughtfully designed homes for the people who keep this city moving, including teachers, first responders, healthcare professionals and students. It s about building housing that strengthens the community and meets real demand.
Situated at 6939 West Thomas Road, Desert Sky offers direct access to major employment corridors, retail centers and neighborhood public spaces. It is one mile from Desert Sky Mall, half a mile from Desert West Park, a 15-minute drive from Grand Canyon University and a 20-minute drive from downtown Phoenix. Major thoroughfares and bus routes offer added connectivity.
Desert Sky demonstrates what s possible when private development works hand in hand with public partners, said Austin Kates, Vice President of Development at The NRP Group. Through collaboration with the city, we ll deliver an affordable community that blends modern design with the character of the surrounding neighborhood, enabling residents to live near where they work and study while enjoying convenient access to local amenities.
The 10-acre development comprises nine, three-tale garden-style apartment buildings and a central clubhouse. The property s design preserves the neighborhood s character with warm, earth-toned exteriors, interconnected pathways and thoughtful landscaping. Units include one- and two-bedroom residences with high-quality finishes, walk-in closets, stainless steel appliances, granite countertops and in-unit laundry machines. Select ground-floor homes will feature private yards. Covered parking and on-site private parking garages are available.
Desert Sky is a demonstration of our commitment to providing high-quality, affordable housing to greater Phoenix, said Councilwoman Anna Hernandez. This development will bring 288 new units to Maryvale and help meet the city s increasing demand for housing, providing new opportunities for residents while strengthening our local economy. By expanding housing availability near key employment hubs, we re ensuring that Phoenix remains a competitive and thriving city for years to come.
Desert Sky s design emphasizes wellness, walkability and community connection with a robust amenity package that includes a 5,500-square-foot clubhouse, outdoor pool, resident lounge, dog park, a business center with coworking spaces, fitness center, grill stations and mail and parcel lockers.
The Phoenix metro area is a priority market for The NRP Group, underscoring the firm s strategic commitment to one of the fastest-growing counties in the U.S. The firm s expansion reflects strong confidence in the region s long-term rental housing market, driven by robust job growth and sustained year-over-year in-migration patterns. The NRP Group has developed more than 62,000 apartment homes since 1994, and currently manages over 30,000 residential units across the U.S.
The NRP Group broke ground on the new residential housing development this month, with completion scheduled for 2027.

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Advanced Real Estate Expands Southern California Multifamily Portfolio with Acquisition of Newhope Village Apartments in Santa Ana

IRVINE, CA – Advanced Real Estate has bought the Newhope Village apartments, adding to its more than 12,000-unit portfolio in Southern California. The gated, podium-style property features a host of amenities, including a pool, fitness center and tot-lot. Advanced retired a $9.5 million HUD loan and ultimately plans to place debt on the property, providing even more capital to its $100 million+ fund.
“Newhope Village fits perfectly with our surrounding properties. We now have over 1,750 units in the city of Santa Ana,” said Rick Julian, CEO of Advanced. “This makes even more efficiencies with management and renovations.”
Advanced plans for significant renovations and upgrades to the property, including the addition of in-unit washer and dryers, new cabinetry, flooring, fixtures, appliances, windows and a modern paint scheme. These upgrades will be completed by Advanced’s in-house construction company, R3 Construction, and in-house property management company, Advanced Management Company.
This is the second acquisition for Advanced’s newest Opportunity Fund (Advanced Fund 24-3). Last month, Advanced bought The Cove, a 138-unit property in West Covina, and the company plans to enact several more Southern California apartment acquisitions in the coming year.
“We were able to buy this property through a 721 contribution, which allowed a tax-deferred transaction for the family who owned it,” said Paul Julian, Rick’s son and President of Advanced. “They are now partners in our fund and diversified among the other assets.”
Advanced’s investment offerings are open to the company’s friends and family network, which has now grown to over 1,000 investors. “We are always open to welcoming new investors either through cash and retirement investments or through a contribution of their property, like in this case with Newhope Village,” said Rick Julian.

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Sherman Residential Acquires 909 Flats Luxury Apartment Community Located in Nashville’s Sought-After Germantown Neighborhood

NASHVILLE, TN – Sherman Residential bought 909 Flats, a Class A multifamily property in Nashville, TN. 909 Flats is a 232-unit luxury apartment community situated on the edge of Germantown, one of Nashville’s most sought-after neighborhoods.
The property is across the street from the year-round Nashville Farmer’s Market and in between the Tennessee State Museum and State Capitol building. Residents will also benefit from the urban Greenway expansion initiative that plans to add greenspace and recreation areas directly next to the property.
The intersection of the Germantown and Capitol Hill neighborhoods provides a rich landscape for the 909 resident. Top employers, like Amazon, Pinnacle, and UBS, are within walking distance. New retail and restaurants are booming half a mile away at Capitol View’s corporate campus. Plus, Nashville’s new Titans Stadium will only be a seven-minute drive.
Flat’s midrise property and its resident-focused amenities deliver: Studio to two bedroom apartments reaching nearly 1,400 square feet; Elevated clubroom with a breathtaking skyline view; Luxury options, such as quartz countertops and pendant lighting; Exclusive guest suite reservable only by 909 residents; Open spaces available for work, study, making, and recording; A controlled-access garage with parking and EV charging included; Conveniences like in-unit washers and dryers and a 24-hour fitness center.
Sherman Residential s Senior Vice President stated: We’re excited to return to Nashville. We sold out of the market near the peak in 2021 and 909 Flats is a fantastic opportunity for us to reenter. The asset is a fantastic addition to the Sherman Residential portfolio.
Sherman Residential has been in the real estate business for over 100 years and currently owns assets in six states. The family-owned company is headquartered in north suburban Chicago.

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