Centria News
In the News
April 13, 2026 – Arizona Republic
What are those new boutique apartments coming to midtown Phoenix?
Location: 4235 N. 24th Street, just south of Glenrosa Avenue, near midtown Phoenix.
Description: Construction of a new 36-unit apartment complex called CenTria Biltmore is underway.
When complete, it’ll offer Phoenix’s renters attainable leases and help fill Arizona’s gap of much-needed middle housing, according to its developer.
Press Releases
January 8, 2026 – Phoenix, Arizona
CenTria Living Breaks Ground on 36-Unit Multifamily Development in Phoenix’s Biltmore Submarket
CenTria Living has initiated construction on a 36-unit multifamily development located at 4235 N 24th Street in Phoenix, Arizona. This new property will be called “CenTria Biltmore,” reflecting its location in the Biltmore submarket: one of the city’s established and most desirable neighborhoods.
JANUARY 1, 2026 – TEMPE, ARIZONA
CenTria Living Acquires 44-Unit Townhome Community in Tempe, Arizona
Industry Articles
Coming soon
Press Releases
JANUARY 8, 2026 – PHOENIX, ARIZONA
CenTria Living Breaks Ground on 36-Unit Multifamily Development in Phoenix’s Biltmore Submarket
CenTria Living has initiated construction on a 36-unit multifamily development located at 4235 N 24th Street in Phoenix, Arizona. This new property will be called “CenTria Biltmore,” reflecting its location in the Biltmore submarket: one of the city’s established and most desirable neighborhoods.
Construction officially began on October 1, 2025. As of Q1 2026, sitework and underground utilities are complete, and the project has entered the foundation and podium phase. Delivery is targeted for Q1 2027.
The development of CenTria Biltmore reflects the firm’s approach to multifamily development that features disciplined, new construction in high-barrier, urban infill locations. The Biltmore submarket is known for limited availability of development parcels, consistent renter demand, proximity to major employment hubs, as well as direct access to retail, hospitality, and regional transportation corridors. These characteristics have historically supported durable occupancy and rent performance compared to broader Phoenix metro averages.
When complete, CenTria Biltmore will deliver 36 residential units, including a mix of studio, one-bedroom, and two-bedroom floor plans. The design and variety of these apartments are targeted towards professional renters seeking well-located, smaller-scale communities in established neighborhoods rather than large-format, multifamily complexes on the outskirts of the Phoenix metroplex.
Construction is being delivered under a cost-plus structure with licensed and bonded general contractor, Leone Builders. Financing was secured through Pinnacle Bank at approximately 65 percent loan-to-cost, aligning leverage with conservative underwriting standards and emphasizing capital preservation.
CenTria Living is overseeing development through an owner-controlled, risk management framework that covers structural systems, building envelope, life safety, utilities, and construction sequencing. This allows the firm to limit execution risk, control costs, and preserve basis through completion.
“This project reflects our approach to development by prioritizing submarket quality, maintaining basis discipline, and managing risk through execution rather than leverage,” said CenTria Living, Co-Founder, Brian Boubek. “We focus on infill locations where long-term demand characteristics support stability across market cycles.”
CenTria Living Co-Founder, Justin Britto also sees this project as a perfect fit for the company’s methodology. “The CenTria Biltmore development represents another addition to our growing portfolio of boutique multifamily assets in Phoenix-area infill locations. Investors will appreciate our continued emphasis on controlled scale, conservative capital structures, and long-term asset durability with demand-driven, high-quality assets that preserve downside protection.”
JANUARY 1, 2026 – TEMPE, ARIZONA
CenTria Living Acquires 44-Unit Townhome Community in Tempe, Arizona
Tempe, AZ — CenTria Living, a real estate investment and development firm, has acquired CenTria Townhomes 44, a multifamily residential community located at 1806 E. Concorda Drive in Tempe, Arizona.
This 44-unit community was originally constructed in 1963, consisting entirely of two-story townhome residences with two-bedroom floor plans. It is located in close proximity to Arizona State University, established employment corridors, and long-standing demand drivers that have historically supported stable rental fundamentals in the Tempe market.
In the Phoenix metropolitan area, the Tempe submarket is known for limited land availability and constrained housing supply. Despite these challenges, CenTria Living acquired the community at a materially lower basis than recent comparable transactions and current replacement cost. The investment approach centers on disciplined basis control, conservative leverage, targeted renovation, and operational improvements to enhance asset quality while preserving downside protection.
“Townhome communities of this size and configuration are increasingly difficult to replicate in Tempe due to zoning limitations and land availability,” said Brian Boubek, CenTria Living Founding Partner. “This acquisition aligns with our focus on supply-constrained submarkets, where long-term demand and consistent operation support dependable ownership outcomes.”
“The CenTria Townhomes 44 acquisition represents the continued expansion of our presence in the Phoenix metro area. It’s consistent with our firm’s broader strategy of investing in specific multifamily assets that feature opportunities for returns driven by execution discipline and basis management, rather than speculation,” added CenTria Living Founding Partner, Justin Britto.
The business plan includes phased interior renovations, exterior capital improvements, and operational optimizations. CenTria Living intends to execute the repositioning strategy while maintaining the property’s existing footprint and operating the asset with a long-term ownership orientation.
Coming soon.