Update 3/31/17 – Moncap LLC of Scottsdale, Ariz., has purchased the Ahwatukee parcel from 1784 Capital Holdings for $1.8 million. The new owner plans to build a 104,000-square-foot storage facility, according to the source.

Moncap was represented in the transaction by Matt Rinzler, a broker with Insight Land & Investments, a Scottsdale-based real estate firm. Denise Nunez, senior vice president for commercial real estate company NAI Horizon, helped broker the deal, a source reported.

“A hidden gem, it will serve well as a community self-storage project that will benefit from the expansion of [Arizona State Route] 202 just south and the extension of Chandler Boulevard to the west of this location,” Nunez said. 9/7/16 – The Ahwatukee Foothills Village Planning Committee voted 9-1 to recommend the planning commission approve the self-storage project proposed by 1784 Capital Holdings. The committee viewed the project favorably despite some continuing opposition from nearby residents, according to the source.

“My opinion, the committee believed the proposed commercial use was less obtrusive than many of the other commercial possibilities for the site,” committee chair Chad Blostone told the source. “Also, the developer made significant improvements to the design of the building. He split the building into two, lowered both, and added architectural features and landscaping not required by the city.”

The report didn’t indicate when the planning commission would discuss the project.

8/18/16 – 1784 Capital Holdings is seeking approval to build a three-story self-storage facility in Ahwatukee, Ariz. The Ahwatukee Foothills Village Planning Committee will discuss the proposal for the 2.78-acre vacant plot at an Aug. 22 public meeting. The property at the intersection of Desert Foothills Parkway and Marketplace Way has been vacant for 32 years, according to the source. Although zoned commercial, it requires a special-use permit for self-storage. 1784 Capital is also seeking an exemption to the city’s ban on structures higher than one story.

The company had previously introduced the proposal but later withdrew it so it could hold additional meetings with residents about the facility’s design, the source reported. The building would comprise nearly 104,000 square feet over the three floors, one of which would be below ground.

“The use will provide a low-intensity, low-traffic-generating buffer to the adjacent residential uses, while providing convenient storage options for nearby residents and businesses,” according to a June 10 letter to neighbors written by Jessi Thornton, a planner with Withey Morris PLC, the law firm representing 1784 Capital. In the original documents filed with the city, Thornton said the storage development would be an improvement for the neighborhood and eliminate a “magnet for unsafe activities and general nuisance.”

The proposed maximum height of 25 feet is lower than the two 30-foot-high, single-story supermarkets nearby, she noted. “The proposed low-intensity commercial use is much more compatible with the adjacent residential than the more intense commercial uses that are permitted,” Thornton said.

The developer might also seek a waiver from the city that requires storage facilities to have a guard onsite. The documents stated the requirement was “indicative of outdated self-storage models and facilities.” The facility will have video cameras posted inside and around the building and won’t include manager housing. “Extensive security measures negate the need for an onsite residence,” according to the documents.

The design has also taken nearby housing into consideration. Reflective glass won’t be used in windows that face homes, and the site’s entrance will be placed on the building’s west side, opposite the houses, the documents stated.

Founded in 2013 and based in Scottsdale, Ariz., 1784 Capital acquires, develops, constructs and owns self-storage facilities. Its subsidiary, 1784 Solar LLC, provides short-term construction financing for solar projects in Canada and the United States.

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