EMBREY, a vertically integrated real estate investment company based in San Antonio, Texas, today announced it has closed on the land and financing for 12th & Greenway, its newest Class A luxury multifamily development located near North 12th Street and Greenway Parkway in Phoenix. The seven-acre community will deliver 340 upscale apartment homes, reflecting EMBREY’s ongoing focus on high-quality communities in markets defined by strong population and employment growth.
12th & Greenway marks EMBREY’s fifth project start in Phoenix and its ninth overall in Arizona since entering the market in 2006.
“Phoenix continues to lead the nation in population and job growth, making it one of the most resilient and dynamic multifamily markets in the country,” said Jimmy McCloskey, chief development officer for EMBREY. “With 12th & Greenway, we’re delivering thoughtfully designed, high-quality housing in a location that offers both connectivity and convenience to some of the region’s top employers.”
Located between the high-growth Deer Valley and North Phoenix submarkets, 12th & Greenway provides exceptional regional access via Loop 101, Highway 51, and Interstate 17. The community is within one mile of 1.6 million square feet of retail anchored by Fry’s Food Stores, Target, and Sprouts Farmers Market, as well as major employment centers for TSMC, USAA, and Honeywell.
The four-story wrap-style community with townhomes will feature modern, open-concept layouts averaging 894 square feet, with interiors that include 9- and 10-foot ceilings, wood-style plank flooring, quartz countertops, and stainless-steel appliances. Additional features include built-in desks, keyless entry, and double vanities in select units.
Residents will enjoy an extensive amenity collection designed for resort-style living, including a heated pool and hot tub with private cabanas, outdoor kitchen and fireplace, fitness and yoga studios, game room, conference and micro-office spaces, and a secured 24-hour package room. Outdoor features will include several courtyards, a walking trail, dog park, and shaded community spaces for gathering and relaxation.
The financing for 12th & Greenway was provided by Frost Bank, with support from private investors. EMBREY’s Chief Investment Officer Garrett Karam and Chief Development Officer Jimmy McCloskey led the execution of the transaction.
“12th & Greenway is timed perfectly to meet demand as new supply in the Phoenix market begins to slow,” said Karam. “The project will deliver high-quality rental housing in a premier location that’s poised for long-term success.”
Construction will begin immediately, with first occupancies anticipated in the third quarter of 2027.
About EMBREY
San Antonio-based EMBREY is a vertically integrated real estate investment company that develops, builds, acquires, owns, and manages multifamily communities and commercial assets in select markets throughout the United States. EMBREY celebrates more than 50 years in business, with over 50,000 multifamily units and six million square feet of commercial property completed in its history. As a leading developer in the multifamily sector, the company has more than 6,000 units under construction or in development. www.embrey.com.
