{"id":692815,"date":"2022-10-06T08:12:03","date_gmt":"2022-10-06T12:12:03","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/ejf-capital-and-toll-brothers-apartment-living-announce-joint-venture-to-create-313-unit-multifamily-community-in-downtown-phoenix-opportunity-zone\/"},"modified":"2022-10-06T08:12:03","modified_gmt":"2022-10-06T12:12:03","slug":"ejf-capital-and-toll-brothers-apartment-living-announce-joint-venture-to-create-313-unit-multifamily-community-in-downtown-phoenix-opportunity-zone","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ejf-capital-and-toll-brothers-apartment-living-announce-joint-venture-to-create-313-unit-multifamily-community-in-downtown-phoenix-opportunity-zone\/","title":{"rendered":"EJF Capital and Toll Brothers Apartment Living Announce Joint Venture to Create 313-Unit Multifamily Community in Downtown Phoenix Opportunity Zone"},"content":{"rendered":"

<\/p>\n

EJF Capital and Toll Brothers Apartment Living Announce Joint Venture to Create 313-Unit Multifamily Community in Downtown Phoenix Opportunity Zone<\/b><\/p>\n

The Project Will Meet Growing Demand for Downtown Living with Walkable Neighborhood and Robust Amenities, Coupled with Onsite Parking and Easy Freeway Access<\/i><\/p>\n

ARLINGTON, Va.–(BUSINESS WIRE<\/a>)–
\nEJF Capital LLC (\u201cEJF\u201d) and Toll Brothers Inc. (NYSE: TOL), through its Toll Brothers Apartment Living (\u201cTBAL\u201d) division, today announced the formation of a joint venture to develop Henri (the \u201cProject\u201d), a 313-unit multifamily community in downtown Phoenix, AZ. The 2.32-acre site is in a \u201cQualified Opportunity Zone\u201d under the Tax Cuts and Jobs Act of 2017 (\u201cTCJA\u201d), which offers investors potential tax benefits to invest into Qualified Opportunity Zones with the aim of spurring economic growth in lower income areas.\n<\/p>\n

\nThe Project, expected to break ground in October 2022, is a joint venture between EJF OpZone Fund I LP and TBAL. Upon completion, the seven-story building will offer a unit mix of studio- through 3-bedroom apartments located in one of the only pre-automotive, walkable neighborhoods in the Phoenix Metropolitan Statistical Area (MSA). Neighboring the famed arts district Roosevelt Row, the Project is surrounded by restaurants, bars, cafes, art galleries, shops, and entertainment venues.\n<\/p>\n

\n\u201cWe\u2019re truly delighted to partner with Toll Brothers on a project with such undeniable economic appeal,\u201d said Asheel Shah, Senior Managing Director and Head of Real Estate Development at EJF. \u201cPhoenix is one of the nation\u2019s fastest-growing metropolitan areas, with a sizeable employment base and a dynamic retail, restaurant, and entertainment hub downtown\u2014yet it has a limited supply of new housing opportunities. Henri is well-positioned to capture that unmet demand.\u201d\n<\/p>\n

\nCharles Elliott, President of Toll Brothers Apartment Living, said \u201cDowntown Phoenix\u2019s ideal location, proximity to major transportation networks, and demographics all point to a community in growth mode. Henri will fill an important need for multifamily housing in this vibrant and fast-growing area.\u201d\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20221006005067\/en\/<\/a><\/span><\/p>\n

Media:
\n<\/b>
Nathaniel Garnick\/Kevin FitzGerald
\n
Gasthalter & Co.
\n
(212) 257-4170<\/p>\n

EJF Investor Relations:
\n<\/b>
investorrelations@ejfcap.com
\n<\/a>
http:\/\/ejfopzone.com
\n<\/a>
http:\/\/ejfcap.com
\n<\/a>
(571) 982-7281\n<\/p>\n

KEYWORDS:<\/b> Arizona Virginia United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Residential Building & Real Estate Construction & Property Urban Planning<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

EJF Capital and Toll Brothers Apartment Living Announce Joint Venture to Create 313-Unit Multifamily Community in Downtown Phoenix Opportunity Zone The Project Will Meet Growing Demand for Downtown Living with Walkable Neighborhood and Robust Amenities, Coupled with Onsite Parking and Easy Freeway Access ARLINGTON, Va.–(BUSINESS WIRE)– EJF Capital LLC (\u201cEJF\u201d) and Toll Brothers Inc. (NYSE: TOL), through its Toll Brothers Apartment Living (\u201cTBAL\u201d) division, today announced the formation of a joint venture to develop Henri (the \u201cProject\u201d), a 313-unit multifamily community in downtown Phoenix, AZ. The 2.32-acre site is in a \u201cQualified Opportunity Zone\u201d under the Tax Cuts and Jobs Act of 2017 (\u201cTCJA\u201d), which offers investors potential tax benefits to invest into Qualified Opportunity Zones with the aim of … <\/p>\n

Continue reading “EJF Capital and Toll Brothers Apartment Living Announce Joint Venture to Create 313-Unit Multifamily Community in Downtown Phoenix Opportunity Zone”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-692815","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nEJF Capital and Toll Brothers Apartment Living Announce Joint Venture to Create 313-Unit Multifamily Community in Downtown Phoenix Opportunity Zone - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ejf-capital-and-toll-brothers-apartment-living-announce-joint-venture-to-create-313-unit-multifamily-community-in-downtown-phoenix-opportunity-zone\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EJF Capital and Toll Brothers Apartment Living Announce Joint Venture to Create 313-Unit Multifamily Community in Downtown Phoenix Opportunity Zone - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"EJF Capital and Toll Brothers Apartment Living Announce Joint Venture to Create 313-Unit Multifamily Community in Downtown Phoenix Opportunity Zone The Project Will Meet Growing Demand for Downtown Living with Walkable Neighborhood and Robust Amenities, Coupled with Onsite Parking and Easy Freeway Access ARLINGTON, Va.–(BUSINESS WIRE)– EJF Capital LLC (\u201cEJF\u201d) and Toll Brothers Inc. (NYSE: TOL), through its Toll Brothers Apartment Living (\u201cTBAL\u201d) division, today announced the formation of a joint venture to develop Henri (the \u201cProject\u201d), a 313-unit multifamily community in downtown Phoenix, AZ. The 2.32-acre site is in a \u201cQualified Opportunity Zone\u201d under the Tax Cuts and Jobs Act of 2017 (\u201cTCJA\u201d), which offers investors potential tax benefits to invest into Qualified Opportunity Zones with the aim of … Continue reading "EJF Capital and Toll Brothers Apartment Living Announce Joint Venture to Create 313-Unit Multifamily Community in Downtown Phoenix Opportunity Zone"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/ejf-capital-and-toll-brothers-apartment-living-announce-joint-venture-to-create-313-unit-multifamily-community-in-downtown-phoenix-opportunity-zone\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-06T12:12:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20221006005067r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ejf-capital-and-toll-brothers-apartment-living-announce-joint-venture-to-create-313-unit-multifamily-community-in-downtown-phoenix-opportunity-zone\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ejf-capital-and-toll-brothers-apartment-living-announce-joint-venture-to-create-313-unit-multifamily-community-in-downtown-phoenix-opportunity-zone\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"EJF Capital and Toll Brothers Apartment Living Announce Joint Venture to Create 313-Unit Multifamily Community in Downtown Phoenix Opportunity Zone\",\"datePublished\":\"2022-10-06T12:12:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ejf-capital-and-toll-brothers-apartment-living-announce-joint-venture-to-create-313-unit-multifamily-community-in-downtown-phoenix-opportunity-zone\\\/\"},\"wordCount\":393,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ejf-capital-and-toll-brothers-apartment-living-announce-joint-venture-to-create-313-unit-multifamily-community-in-downtown-phoenix-opportunity-zone\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20221006005067r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ejf-capital-and-toll-brothers-apartment-living-announce-joint-venture-to-create-313-unit-multifamily-community-in-downtown-phoenix-opportunity-zone\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ejf-capital-and-toll-brothers-apartment-living-announce-joint-venture-to-create-313-unit-multifamily-community-in-downtown-phoenix-opportunity-zone\\\/\",\"name\":\"EJF Capital and Toll Brothers Apartment Living Announce Joint Venture to Create 313-Unit Multifamily Community in Downtown Phoenix Opportunity Zone - 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