7 Unmissable Facts About Aspen Place Flagstaff AZ: The $64.5 Million Luxury Hub You Need To Know In 2025
Aspen Place in Flagstaff, Arizona, has firmly established itself as the city's premier mixed-use destination, blending high-end residential living with a vibrant retail and dining scene. As of late 2024 and heading into 2025, the development continues to be a focal point for luxury living and regional shopping, strategically located near Northern Arizona University (NAU) and set against the stunning backdrop of the Ponderosa pine forest. The continuous high occupancy rates and recent major real estate transactions underscore its status as a critical economic and lifestyle hub in Northern Arizona.
The entire development, which includes the residential "Village at Aspen Place" and the commercial "Aspen Place at The Sawmill," is a modern tribute to the area's history, named in honor of the former Stone Forest Sawmill that once occupied the site. Its success is driven by its unique blend of rustic, mountain-town ambiance and modern, resort-style amenities, making it a powerful magnet for both Flagstaff residents and visitors seeking a sophisticated, convenient lifestyle at 7,000 feet elevation.
Fact 1: The Village at Aspen Place is a $64.5 Million Luxury Residential Community
The residential component of this sprawling development, known as the Village at Aspen Place, is a highly sought-after luxury apartment community. It comprises a total of 222 Class A, high-density apartment units designed to offer the peak of luxury living in Flagstaff.
Recent High-Value Transaction
In a major market update, the luxury multifamily community was recently sold in a significant real estate deal valued at $64.5 million. This transaction highlights the strong investor confidence and the premium value placed on high-quality, mixed-use properties in the Flagstaff market. The community is currently managed by Greystar, a prominent name in property management.
Unmatched Resort-Style Amenities
Residents of the Village at Aspen Place enjoy a host of unmatched, resort-like amenities that contribute to its luxury reputation. These features are frequently cited in positive resident reviews and include:
- A sparkling outdoor pool and relaxing hot tub.
- A state-of-the-art gym or exercise room.
- A dedicated, pet-friendly dog washing station.
- Other conveniences like other parking options and units ranging from 553 to 1591 square feet.
Fact 2: Aspen Place at The Sawmill is Nearly Fully Leased (93-94% Occupancy)
The commercial side, officially named Aspen Place at The Sawmill, is Northern Arizona's premiere destination for shopping and dining. Developed by RED Development, the retail center has consistently maintained extremely high occupancy rates, confirming its status as a vital regional shopping destination.
A Magnet for National and Local Retailers
The center’s retail space is reported to be 93-94% leased, with letters of intent for the remaining space, indicating strong commercial demand. This high occupancy is driven by a strategic mix of national anchor tenants and unique local shops.
Key anchor tenants and major retailers include:
- Whole Foods: A major draw for high-quality groceries.
- REI (Recreational Equipment, Inc.): Catering to Flagstaff's outdoor and adventure lifestyle.
- Lululemon: A popular athletic apparel store, offering services like hemming and buy online, pick up in-store.
- Orangetheory: A leading fitness studio.
- Eddie Bauer: Providing outdoor and casual clothing.
Fact 3: It’s the Epicenter for Flagstaff's Best Dining
Beyond retail, Aspen Place is a central hub for varied dining options, offering everything from fast-casual to sit-down dining experiences. The selection of restaurants makes it a popular spot for both a quick bite and a relaxed evening out.
A Culinary List of Must-Visit Establishments
The food and restaurant area features outdoor dining spaces and a diverse culinary lineup, including:
- Grimaldi's Pizzeria: Known for its New York-style pizza, located right in the heart of the development, offering views of the San Francisco Peaks.
- Wildflower (Wildflower Bread Company): A beloved local spot for fresh bread, soups, and sandwiches.
- Pita Jungle: Offering healthy Mediterranean-inspired cuisine.
- Seasoned Kitchen: An additional dining option contributing to the varied food scene.
Fact 4: Strategic Proximity to Northern Arizona University (NAU)
The location of Aspen Place is highly strategic, situated just steps away from Northern Arizona University (NAU). Flagstaff's student population, which includes over 29,000 seasonal students, plays a significant role in the vibrancy and success of the mixed-use center.
This proximity makes the Village at Aspen Place apartments particularly appealing to faculty and higher-end student residents, while the retail and dining options serve as a convenient, high-quality destination for the entire university community.
Fact 5: Designed to Blend Rustic Charm with Modern Architecture
The aesthetic design of the development is a major draw. The architecture is described as both rustic and modern, creating a luxury ambiance that complements the natural surroundings. The entire project was intentionally designed as a high-density mixed-use space to blend seamlessly with existing retail and the natural environment of the Ponderosa pine forest.
The use of materials and design elements reflects the mountain-town character of Flagstaff while providing the contemporary facilities expected of a Class A development.
Fact 6: A Hub for Health, Beauty, and Wellness Services
Aspen Place is not just for shopping and dining; it also serves as a comprehensive center for personal services, health, and wellness, further solidifying its role as a lifestyle center.
Key service providers include:
- Pac Dental: Providing essential dental services.
- Flagstaff Face & Body: A local destination for beauty and spa treatments.
- Nail Spa: Offering manicure and pedicure services.
- Orangetheory: As mentioned, a key component of the wellness offerings.
Fact 7: The Development's Address is a Key Identifier
While the overall area is known as Aspen Place, the key addresses help distinguish the residential and commercial sections for navigation and services. The Village at Aspen Place apartments are located at 601 E. Piccadilly Drive, Flagstaff, AZ 86001. The commercial area, Aspen Place at The Sawmill, uses the 319 Regent Street address for some of its commercial sections.
The entire development is situated right off Butler Avenue, making it easily accessible for the greater Flagstaff community and those traveling from the Phoenix desert, which is approximately 140 miles south.
Conclusion: Aspen Place's Enduring Appeal
Aspen Place Flagstaff AZ, encompassing the luxury apartments of Village at Aspen Place and the retail hub of Aspen Place at The Sawmill, continues to define modern, high-quality living and commerce in Northern Arizona. Its success, evidenced by the $64.5 million sale and near-full occupancy, is a testament to its strategic location, high-end amenities, and diverse mix of tenants. For anyone looking for a dynamic, convenient, and upscale lifestyle or a premier regional shopping experience, Aspen Place remains the undisputed destination in Flagstaff, with its growth and stability projected well into 2025.
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