Greystar Breaks Ground on Marlowe Peoria Place

PEORIA, AZ (January 16, 2024) — Greystar Real Estate Partners, LLC (“Greystar”), a global leader in the investment, development, and management of real estate, including rental housing, logistics and life sciences, today announced that it has broken ground on Marlowe Peoria Place, the latest Marlowe-branded apartment community. Located west of Grand Ave. and south of Monroe St., this new community is part of Greystar’s master plan for Peoria Place, which will include more than 700 apartments, 255 build for rent homes and 400,000 sq. ft. of logistics.

“Marlowe Peoria Place is an important piece in the overall Peoria Place master plan,” Billy Cundiff, Greystar Managing Director, Development, said. “Marlowe Peoria Place will highlight the entrance to Old Town Peoria with a public art piece and bring 4,900 sq. ft. of retail space that will serve as an amenity to the entire area. This project is truly a partnership between the city and Greystar to get the master plan off the ground.”

“In Peoria, we realize that a diverse housing portfolio is key to attracting new business," said Peoria Deputy City Manager Mike Faust. “Peoria Place is a wonderful addition to the community, bringing new retail businesses and  connection to our P83 Entertainment District with easy access to the 101."

As the first conventional multifamily community within the master plan, Marlowe Peoria Place is a three-story community with 370 apartment homes with one- and two-bedroom floorplans that range from 650 to 1,180 sq. ft. Marlowe Peoria Place Marlowe will balance comfort and luxury through their thoughtfully designed interiors including quartz countertops, stainless steel appliances, two bright color schemes, and abundance of community amenities. Community amenities will include a 1,200 sq. ft. fitness center, pickleball court, two dog parks, a coworking space in the clubhouse and a pool with cabanas and spa. The community’s architecture is Spanish desert which will have elements throughout the master plan as well.

The Peoria Place master plan is adjacent to the City of Peoria municipal offices and will bring restaurants, retail and lifestyle-related business to the Old Town area to complement the many events that the city hosts. The project is located half a mile south of Pioneer Community Park, an 83-acre public space with dog parks, an urban lake, public art and more than 10 lighted fields for various sports. Peoria Place is just a 10-minute drive from the Westgate entertainment district, State Farm Stadium, home of the Arizona Cardinals, and the Peoria Sports Complex where the Seattle Mariners and San Diego Padres play their spring training games.

Greystar’s equity partners are Link Capital Partners and BCI Asset Management. For more information on the Peoria Place master plan, please visit www.peoriaed.com/available-sites/peoria-s-premier-development-sites/peoria-place.