Phoenix, AZ (March 19, 2020)
In early February 2020, general contractor Hensel Phelps broke ground on Derby Roosevelt Row, Metro Phoenix’s first “small unit” apartment development.
Located in the Roosevelt Row Arts District, Derby Roosevelt Row will be a 21-story high-rise featuring 222 residential units above six stories of above-ground parking. Over half of the units will be studios averaging 350 square feet, and all 222 apartments will come fully furnished.
Amenities will include a pool deck on the seventh level, a rooftop deck on the 21st level and retail space on the ground floor. Construction completion is scheduled for the first quarter of 2022.
“These small unit apartments are the first of their kind in Phoenix and are an exciting addition to the vibrant Roosevelt Row neighborhood,” said Hensel Phelps Project Manager John Doherty. “We have enjoyed building a strong and trusting relationship with the owner, developer and design team and are excited to begin construction.”
The owner is Denver-based real estate private equity firm Ascentris, the development manager is Transwestern Development Company and the architect of record is Wilder Belshaw Architects.
Notable subcontractors include University Mechanical & Engineering Contractors (UMEC) and Specified Electrical Contractors, Inc. (SECON). Hensel Phelps will self-perform the cast-in-place structural concrete.
About Hensel Phelps
Since its inception in 1937, Hensel Phelps has developed a reputation for conducting business in an ethically, socially, economically and environmentally responsible manner. The company is committed to having a positive impact on the communities in which its people work and live.
Hensel Phelps prioritizes the health and safety of its employees, stakeholders and project partners and maintains a corporate responsibility to minimize environmental impact. Since 1990, the company has maintained recycling programs at all locations and provides waste material sorting areas on projects.
Many of the workspaces where employees conduct business are Platinum, Gold and Silver certified by the U.S. Green Building Council. Hensel Phelps has more than 300 LEED Accredited Professionals and LEED Green Associates.
In 2006, Hensel Phelps introduced hybrid passenger vehicles to its company fleet and has installed charging stations at several offices and project locations. From 2006 to 2015, the fleet increased from 5% to 56% hybrid passenger vehicles and continues to expand.
Hensel Phelps is also recognized as one of the safest contractors in the nation. Its Experience Modification Rate (EMR), the construction industry’s safety benchmark, has consistently improved year over year and is roughly half of the industry average for a self-performing general contractor.
For more information, visit henselphelps.com.
About Ascentris
Ascentris is a real estate private equity firm based in Denver, Colorado. With $1.6 billion in assets under management, Ascentris manages a series of fully discretionary institutional vehicles targeting both core and value-add investments across major property types and geographic regions within the United States.
Since 2003, Ascentris’ management team has relied on an investment philosophy and organizational structure that allows investors to access opportunities ahead of the market while receiving a high level of service, transparency and accountability. Ascentris is a privately held and management-owned SEC registered investment adviser committed to putting its investors’ needs first.
Additional information is available at www.ascentris.com.
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