Mark-Taylor Residential Manages Phoenix Micro-Unit Community – Multifamily Real Estate News

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The pool at the Derby in Phoenix. Image courtesy of Mark Boisclair

Mark Taylor housing area adds micro-units to its management portfolio after being tapped to manage a 222-unit community in downtown Phoenix. Ascentris hired the firm to manage Derby, which closed earlier this year.

The 21-story Derby is made up of micro-units designed for renters seeking minimalist floorplans. The community offers studio, one, and two bed units ranging in size from 328 to 834 square feet. Units were built with 10-foot ceilings, Murphy beds, smart home technology, and built-in storage, while some units have washers and dryers. Community amenities include a fitness center, clubhouse, pool, rooftop deck and laundry facilities on each floor. According to Mark-Taylor Residential, Derby is currently 35 percent pre-release.

At 800 N. Second St. in the Roosevelt Row neighborhood of downtown Phoenix, residents can experience a live-work-play lifestyle with close access to the area’s art galleries, restaurants, retail and office buildings. The community recently opened in July, but Mark-Taylor Residential has been hosting resident events to welcome tenants in recent months, including happy hours, charity soccer events and nightly yoga classes.

Micro units make waves

“As demand for housing in downtown Phoenix continues to be strong, micro-apartments offer a creative solution for minimalist city living,” said a spokesman for Mark-Taylor Residential Multi-Housing News. “Mark-Taylor is open to professionally managing other micro-unit communities in the future and will continue to offer luxury garden, midrise and single family rentals.”

Micro-apartments are trending in areas facing serious affordable housing crises, such as Seattle and New York City. Developers in these areas have used the creative solution of micro-unit communities to address the housing shortage.

Derby is the first high-rise micro-unit community to be managed by Mark-Taylor Residential. However, the firm has extensive Arizona experience as a home developer and community owner. In addition to developers and owners, the company also manages more than 22,000 units in the region. In February, a joint venture between Nippon Steel Kowa Real Estate and Continental Realty Assets hired Mark-Taylor Residential to manage the 150-unit Luna in Fountain Hills, Phoenix.

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