Watt Communities of Arizona has announced its latest urban infill community: 16 Ocotillo. The development sits on 2.8 acres at the southwest corner of 16th Street and Ocotillo Road, between Maryland and Glendale avenues in North Central Phoenix.
It is within walking distance to the area’s burgeoning 16th Street “Restaurant Row,” a Sprouts grocery store and diverse retail services. The community is being designed as a gated, single-family detached home community and is located near Piestewa Peak, which sits just one-half mile away.
The 16 Ocotillo land acquisition closed escrow on May 8 for $1.6 million. The buyer was Watt New Leaf-16 Ocotillo LLC. Ray Cashen of Cashen Realty Advisors represented the property seller, The Estate of Mon Jame Lee and The Lee Living Trust.
In late 2013, Scottsdale-based New Leaf Communities and Watt Communities of Santa Monica, Calif., announced their joint venture (Watt Communities of Arizona) and entered the Phoenix market with two inaugural projects, including Biltmore Living, a 40-unit townhome project located less than a mile south of 24th Street and Camelback Road.
“These are urban locations within established employment cores,” said Steve Pritulsky, president and CEO of Watt Communities of Arizona. “They match the quality and vibrancy of their neighborhoods, and will allow residents to move from renting to owning without giving up their urban lifestyle.”
For more information, visit http://wattcommunities.com.