Virtua Partners Completes Rezoning of Phoenix Area Project

Virtua Partners announced today that it has received zoning approval for a residential infill project, Bennett Meadows, located at Sarival Avenue and Harrison Street in the City of Goodyear. With plans to break ground in mid 2018, the development was rezoned from R1-10 to R1-6 and will consist of 90 residential lots on approximately 28 acres.

Bennett Meadows Aerial

Bennett Meadows Aerial

 

“We’re thrilled to complete the rezoning of this property and sincerely appreciate the Goodyear City staff working with us to solve many technical issues related to drainage and traffic flow,” said Nick Montague, president of Virtua Partners affiliate Quyp Development. “We’re looking forward to completing a high quality project that is compatible with the surrounding neighborhood.”

Virtua is processing the preliminary plat through the City of Goodyear with expectations to have pre-plat approval within 90 days and final plat approval 6 months later.

 

About Virtua Partners:
Virtua Partners is a private equity firm specializing in commercial real estate.  Virtua sponsors a variety of investment funds and commercial real estate projects across the United States and currently has 16 million square feet of assets under management or development.

Our investment products range from fixed income to aggressive growth in a variety of asset types including office, flex office, industrial, hospitality, single family residential, multi-family and mixed-use projects. Virtua Partners and its affiliates provide debt and equity origination, asset and property management, debt restructuring, commercial real estate development, and fund management.