Phoenix, Ariz.

Toll Brothers is bringing its luxury apartment communities to metropolitan Phoenix. KTAR reports:

Single-family homebuilder Toll Brothers has planned its first apartments for metro Phoenix, pouring $132 million into the locations.

The Phoenix Business Journal reported this week that 243 units were to go up downtown at Fifth Avenue and Van Buren Street and 256 units were set for Central Avenue and Thomas Road. Combined, that gives the area 499 more living spaces.

The national luxury builder, which operates in 20 states, bought the central Phoenix site in 2007, regional director Todd Bowen told the Journal, intending to construct high-rise condominiums. The Great Recession ended that enterprise.

Each of the complexes were expected to open in 2020.

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