The Oil & Gas Journal, first published in 1902, is the world's most widely read petroleum industry publication. OGJ delivers international oil and gas industry news; analysis of issues and events; practical technology for design, operation, and maintenance of oil and gas operations; and important statistics on energy markets and industry activity.

OGJ is edited to meet the needs of engineers, geoscientists, managers, and executives throughout the oil and gas industry. It is part of Endeavor Business Media, Nashville, Tenn., which also publishes Offshore Magazine.

Endeavor Business Media’s Petroleum Group also produces targeted e-Newsletters; hosts global conferences and exhibitions, seminars, and forums; and publishes directories, technical books, print and electronic databases, surveys, and maps.

Additional Information

Website & Technical Help

For help with subscription purchases or refunds, or trouble logging into the paid subscription content on www.ogj.com, please contact Customer Service at [email protected] or call 1-847-559-7598.

For more customer service information, please click here.

EJF Capital and Toll Brothers Apartment Living Announce Joint Venture to Create 313-Unit Multifamily Community in Downtown Phoenix Opportunity Zone

The Project Will Meet Growing Demand for Downtown Living with Walkable Neighborhood and Robust Amenities, Coupled with Onsite Parking and Easy Freeway Access

EJF Capital LLC (“EJF”) and Toll Brothers Inc. (NYSE: TOL), through its Toll Brothers Apartment Living (“TBAL”) division, today announced the formation of a joint venture to develop Henri (the “Project”), a 313-unit multifamily community in downtown Phoenix, AZ. The 2.32-acre site is in a “Qualified Opportunity Zone” under the Tax Cuts and Jobs Act of 2017 (“TCJA”), which offers investors potential tax benefits to invest into Qualified Opportunity Zones with the aim of spurring economic growth in lower income areas.

The Project, expected to break ground in October 2022, is a joint venture between EJF OpZone Fund I LP and TBAL. Upon completion, the seven-story building will offer a unit mix of studio- through 3-bedroom apartments located in one of the only pre-automotive, walkable neighborhoods in the Phoenix Metropolitan Statistical Area (MSA). Neighboring the famed arts district Roosevelt Row, the Project is surrounded by restaurants, bars, cafes, art galleries, shops, and entertainment venues.

“We’re truly delighted to partner with Toll Brothers on a project with such undeniable economic appeal,” said Asheel Shah, Senior Managing Director and Head of Real Estate Development at EJF. “Phoenix is one of the nation’s fastest-growing metropolitan areas, with a sizeable employment base and a dynamic retail, restaurant, and entertainment hub downtown—yet it has a limited supply of new housing opportunities. Henri is well-positioned to capture that unmet demand.”

Charles Elliott, President of Toll Brothers Apartment Living, said “Downtown Phoenix’s ideal location, proximity to major transportation networks, and demographics all point to a community in growth mode. Henri will fill an important need for multifamily housing in this vibrant and fast-growing area.”

Contacts

Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.