FOR IMMEDIATE RELEASE

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PHOENIX, AZ, September 12, 2024 – Investors seeking high returns in a robust market should look no further than Manzana, a mixed-use development in Phoenix, Arizona. With the city’s rapid growth and significant appreciation in property values, Manzana is poised to deliver impressive returns, making it an obvious choice for savvy investors.

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Strong Market Dynamics in a High-Growth City

Phoenix has consistently ranked as one of the fastest-growing cities in the United States, drawing in new residents and businesses at an unparalleled rate. According to the Maricopa Association of Governments (MAG), Phoenix boasts a growth rate of 1.9%, positioning it as a leader in population expansion. By 2060, the city is projected to grow from its current population of 1.66 million to 2.18 million—a remarkable 31% increase.

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This growth translates directly into demand for real estate across residential, commercial, and mixed-use sectors. Manzana, located in the heart of Phoenix, is expected to capitalize on these dynamics, offering investors projected returns of 20-24%.

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Rising Property Values Fueling Investment Potential

Phoenix’s booming job market, coupled with its appeal as a top destination for new businesses, has driven significant appreciation in property values. Over the past year, home values in Phoenix have risen by 4.3%, with the average home price now standing at $430,036. Since 2000, the median home price has surged by 216%, reflecting the city’s robust economic growth.

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Manzana’s unique location in Roosevelt Row, downtown Phoenix’s walkable arts district, provides immediate demand for urbanites looking to enjoy dining, entertainment, the arts and shopping all near home. Featuring art galleries, restaurants, bars and boutique shops in a landscape dotted by colorful street art, Roosevelt Row defines the 21st century eclectic future of downtown Phoenix.

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In addition to rising property values, Phoenix has also led the nation in rent growth, with a post-pandemic 5-year Compound Annual Growth Rate (CAGR) of 6.5%. This trend underscores the city’s expanding economy and growing desirability as a prime location to live and work.

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Ellie Pearlman, Founder and CEO of Blue Lake Capital, emphasized the significance of Phoenix’s real estate market, stating, “Phoenix, Arizona’s real estate market is witnessing a surge that is more than just a temporary spike. This growth spurt is underpinned by a confluence of encouraging economic metrics and demographic trends, painting a picture of a city where the multifamily sector is not just booming but has a strong foundation for sustained growth.”

 

With the city’s continued population growth and rising property values, Manzana in Phoenix represents a strategic investment opportunity with the potential for significant returns.​​

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