The NRP Group Closes Financing and Breaks Ground at Medina Station in Mesa
The NRP Group, a vertically integrated and nationally recognized developer, builder, and operator of multifamily housing, has announced the financial closing and groundbreaking of a new upscale 353-unit apartment community within the Medina Station master plan in Mesa, Arizona. The development marks a significant milestone for both the company and the rapidly expanding Southeast Valley submarket of the Phoenix metropolitan area.
Situated within the 60-acre Medina Station master-planned community, the project will occupy a 10-acre parcel in the northeast quadrant of the site. Designed as a four-story, elevator-served residential building complemented by additional carriage-style structures, the community will deliver thoughtfully designed apartment homes tailored to families, working professionals, and students. The development aims to meet growing rental demand in one of the most dynamic and fastest-growing corridors in the region.
Strategic Investment and Strong Capital Partnership
The project’s capital stack reflects a strategic collaboration between established financial partners. Equity financing has been provided by Origin Investments, serving as the equity partner, while construction debt financing was secured through U.S. Bank.
This development represents the inaugural investment under Origin Investments’ Select Asset Fund and marks the third ground-up partnership between The NRP Group and Origin. The firms have previously collaborated on major residential communities, including the 353-unit Haynes Lofts in San Antonio and a 340-unit Class-A multifamily project in East Austin. These repeated partnerships underscore the confidence both organizations have in each other’s execution capabilities and in the long-term fundamentals of high-growth Sun Belt markets.
By combining institutional equity with experienced development leadership, the Medina Station project is positioned to move forward with strong financial backing and long-term investment stability.
A Prime Location in the Southeast Valley
The development is located at 10941 E Southern Avenue, offering immediate access to established retail, dining, and service amenities. Residents will be within walking distance of national and regional retailers, including Target, Sprouts Farmers Market, and EōS Fitness, as well as a variety of sit-down and fast-casual restaurants and everyday service providers.
Beyond neighborhood conveniences, the property benefits from exceptional regional connectivity. Direct access to US-60 and Loop 202 allows residents to commute efficiently to major employment hubs across the metropolitan area. The site is also strategically positioned near the Elliot Road Technology Corridor, Mesa Gateway Airport, and several hospital networks, further enhancing its appeal to professionals across diverse industries.
Approximately 15 minutes southeast of the development site, LG Energy Solution is constructing a $5.5 billion battery manufacturing campus expected to generate thousands of new jobs. This transformative industrial investment is anticipated to drive significant economic growth and housing demand in the surrounding communities.
Educational institutions also contribute to the area’s strong demographic profile. The community is located near Arizona State University Polytechnic Campus and A.T. Still University, making the property an attractive housing option for students, faculty, and university staff.
Thoughtful Design Inspired by Desert Modern Aesthetics
Architecturally, the community will draw inspiration from the desert modern design language established within the Medina Station master plan. The project will integrate clean lines, natural materials and contextual landscaping that complement the surrounding Sonoran Desert environment.
The main residential building will rise four stories and be fully elevator-served, providing accessibility and convenience for residents. In addition, six two-story carriage-style buildings will be positioned around the perimeter of the site. These structures will feature direct-access units and rentable garage spaces, offering an added layer of privacy and functionality for residents seeking alternative layouts.
Across the development, the residences will include a mix of studios and one-, two-, and three-bedroom floor plans, totaling more than 340,000 square feet of rentable space. Interior finishes will reflect modern design standards and comfort-driven features. Each apartment will include in-unit washer and dryer appliances, stainless steel kitchen appliances, quartz countertops, and spacious walk-in closets. Select homes will also feature private balconies, private yards, and unobstructed views of the nearby Superstition Mountains, enhancing the sense of connection to the natural landscape.
Amenity-Rich Environment Focused on Wellness and Community
The NRP Group has designed the community with a strong emphasis on lifestyle, wellness and social engagement. A centrally located clubhouse will serve as the social anchor of the property, offering a resident lounge with coffee stations and comfortable gathering areas. A dedicated business center with coworking spaces will accommodate the growing number of remote and hybrid professionals seeking flexible work-from-home options.
Health and recreation amenities will include a fully equipped fitness center and an outdoor pool area complete with a spa jacuzzi, cabanas, and grill stations. Landscaped courtyards featuring fire pits and seating areas will create additional communal spaces for relaxation and social interaction.
Pet-friendly features will include a dedicated dog park, while recreational elements such as a golf putting green will provide unique outdoor activity options. The development will also incorporate practical conveniences such as surface parking, covered carports, garages, rental storage units, and secure pedestrian access gates that allow residents to walk directly into the retail components of the Medina Station master plan.
Continued Commitment to the Phoenix Metro Market
The Phoenix metropolitan area remains a strategic priority for The NRP Group, reflecting its broader investment thesis focused on high-growth Sun Belt markets with strong job creation and population in-migration trends. In December, the firm broke ground on Desert Sky, a 288-unit affordable housing community in West Phoenix, reinforcing its diversified approach to meeting varying housing needs across income segments.
Since its founding in 1994, The NRP Group has developed more than 67,000 apartment homes across 17 states and currently manages over 30,000 residential units nationwide. Its vertically integrated model enables the company to oversee development, construction and property management functions, ensuring operational efficiency and long-term asset performance.
The groundbreaking at Medina Station further strengthens the company’s presence in Arizona and signals confidence in the region’s sustained rental housing demand. Construction on the 353-unit community is scheduled to commence later this month, with completion anticipated in 2028. Once delivered, the project is expected to play a key role in supporting Mesa’s continued economic expansion while offering high-quality housing in a vibrant, walkable mixed-use environment.
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