PHOENIX — Chicago-based The X Co. — which recently started construction on the second phase of its X Phoenix multifamily project in downtown Phoenix — plans to break ground nearby this spring on X Roosevelt.
With 506 beds spanning 20 stories, the first phase of X Phoenix is nearly 100% full, said Ben Brichta, partner of The X Co., which has 11 communities in the pipeline across the country. Construction on the second phase started about six months ago, he said.
Phase two of X Phoenix, which will add another 592 beds over 25 stories, is expected to be completed within two years, he said.
The $100 million project spans a full city block, bounded by Van Buren Street on the north, Second Avenue on the east, Monroe Street on the south and Third Avenue on the west.
While the apartment community includes traditional apartment units, a portion includes a "rent by bedroom" co-living program, where tenants are only responsible for their share of rents and utilities.
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