Mill Creek Announces Groundbreaking of Modera Kierland

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Oct 10, 2022, 10:03 ET

MCR's First Arizona Community Will Feature Two Distinct Living Opportunities

PHOENIX, Oct. 10, 2022 /PRNewswire/ -- Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., today announced it has broken ground on Modera Kierland, a contemporary mixed-use apartment community in the upscale Kierland neighborhood.

The community, Mill Creek's first in the Phoenix metro, will feature different living opportunities in two separate buildings with a combined 438 homes and 14,891 square feet of ground-floor retail space. Modera Kierland will offer views of the McDowell Mountains to the east and overlook the Kierland Golf Course and Camelback Mountain to the west and south. An official groundbreaking ceremony is tentatively scheduled for late October and first move-ins are anticipated for spring 2025.

"We've long admired the Kierland area and North Scottsdale and cannot adequately express how excited we are to officially join the market with Mill Creek's flagship development in the Arizona market," said Tyler Wilson, managing director of development in Arizona for Mill Creek Residential. "Modera Kierland will be a unique development with two buildings offering a distinct ambiance and living experience. The market-rate community in the project's east building will be a haven for renters seeking a fun and edgy living experience, while the west building will cater to a more sophisticated renter looking for larger luxury homes in a more boutique building, which will include amenities and services targeted at urban downsizers and work-from-home professionals seeking something special."

Situated at 7171 E. Paradise Lane, the community is walkable to both Kierland Commons and the Scottsdale Quarter retail and entertainment hubs. Modera Kierland will feature a public community park at the main entry and put residents within steps of a walking trail that winds through the neighborhood. The community is also approximately two miles from the 101 Freeway, which provides connectivity to the greater Phoenix area.

The east building contains 257 homes and will be situated above the community's retail space along the Scottsdale Road frontage, with a traditional mix of apartment homes and a generous average square footage of 955 per home. Common-area amenities will include a large pool courtyard, outdoor bar, gaming areas and rooftop deck. The west building contains 181 homes and will run along the Kierland Golf Course and hiking trail and feature amenities for residents looking to downsize out of larger homes. Amenities will include private dining, chef's presentation areas, a sauna and health club, and additional wellness-inspired amenities. Homes in the west building will boast an average size of 1,233 square feet.

Modera Kierland will offer one-, two- and three-bedroom homes with den, loft and penthouse layouts available. Thirty-eight homes will feature private rooftop patios. Home interiors will be equipped with a variety of deluxe features, including nine-foot ceilings, wood plank-style flooring, stainless-steel appliances, quartz countertops, tile backsplashes, soft-close cabinets, pendant lighting and upgraded fixtures. The community will also include a variety of smart features, including Honeywell thermostats, controlled-access entry, digital package lockers and EV charging stations.

Residents will also have access to an onsite pet park and pet spa, bike lockers, dedicated bike storage and additional storage spaces.

About Mill Creek Residential
Mill Creek Residential Trust LLC is a national rental housing company focused on the development, acquisition and operation of rental communities in targeted markets nationwide. The national company, headquartered in Boca Raton, Florida proactively develops, acquires, constructs and operates communities through its seasoned team of real estate professionals in offices across the United States. Mill Creek is building its portfolio in many of the nation's most desirable markets in Seattle, Portland, the San Francisco Bay area, Southern California, Phoenix, Denver, Dallas, Austin, Houston, South Florida, Tampa, Orlando, Atlanta, Nashville, Charlotte, Raleigh, Washington, D.C., New Jersey, New York, and Boston. As of June 30, 2022, the company's portfolio is comprised of 118 communities representing over 31,000 rental homes that are operating and/or under construction. For more information, please visit www.MillCreekPlaces.com.