Hotel-to-Apartment Conversion is Underway in Ahwatukee
Arizona Republic
The former Four Points Sheraton in Ahwatukee is being transformed into a 104-unit apartment complex, with initial construction already underway. Scottsdale-based Caliber Cos. purchased the hotel for $16.11 million in 2018. The conversion of the 160-room hotel into apartments is expected to be completed within 12 to 15 months. Caliber also plans to build 84 townhouse-style rental units on adjacent land. Converting the hotel into apartments has presented challenges, including the addition of full kitchens and redesigning units for long-term rental suitability. Many existing units were already similar to one-bedroom apartments, but lacked full kitchen facilities. More building conversions are anticipated across the Valley due to high construction costs and interest rates.
