StockNews.AI
TOL
StockNews.AI
89 days

Toll Brothers Apartment Living® and Canyon Partners Real Estate Announce the Grand Opening of Navona, a New Luxury Apartment Community in Mesa, Arizona

1. Toll Brothers opened Navona, a luxury apartment community in Mesa, Arizona. 2. The community features 400 modern apartments with high-end finishes and smart technology. 3. Amenities include resort-style pool, fitness center, and outdoor recreational spaces. 4. Navona is positioned in a rapidly growing area near major employment centers. 5. This marks Toll Brothers' third multifamily project in Arizona, enhancing market presence.

8m saved
Insight
Article

FAQ

Why Bullish?

The successful opening of a luxury community enhances TOL's market reputation and increases sales potential, similar to previous successful projects such as Haverly.

How important is it?

The article highlights TOL's expansion into a growing rental market, promising potential for increased revenue.

Why Long Term?

Successful community developments usually boost long-term revenue through sustained rental income and property value appreciation, as seen with previous multifamily expansions.

Related Companies

Canyon Partners Real EstateINTC
MESA, Ariz., May 22, 2025 (GLOBE NEWSWIRE) -- Toll Brothers Apartment Living®, the rental subsidiary of Toll Brothers, Inc. (NYSE: TOL), the nation's leading builder of luxury homes, in partnership with Canyon Partners Real Estate, announces the grand opening of Navona, a new luxury apartment community in Mesa, Arizona. Located at 10141 East Williams Field Road in Mesa, Navona was financed with a $78 million construction loan from Bank OZK and welcomed its first residents in December 2024. The community marked its grand opening this month with a ribbon cutting celebration with project partners, residents, and guests. “Navona reflects our commitment to delivering exceptional living experiences in the most desirable markets,” said John McCullough, President of Toll Brothers Apartment Living. “Mesa is one of the fastest-growing submarkets in the Phoenix metropolitan area, driven by strong economic growth and a dynamic mix of lifestyle offerings. We’re proud to introduce a community that meets the demands of the market with the quality, luxury, and thoughtful design for which Toll Brothers Apartment Living is known.” Navona offers 400 one-, two-, and three-bedroom apartments and townhomes, featuring open-concept floor plans with high-end finishes and modern conveniences. Each residence has quartz countertops, stainless steel appliances, kitchen islands with designer pendant lighting, and flat panel cabinetry with under-cabinet lighting. Additional features include multi-speed lighted ceiling fans and smart home technology, including keyless entry and programmable thermostats. Select residences offer built-in work-from-home spaces and private patios or balconies. The community’s resort-style amenities were designed with connection, wellness, and relaxation in mind. The expansive outdoor amenity offerings include a resort-style pool, a wading pool, a spa, and elegant cabanas. Residents can enjoy two pickleball courts, bocce ball, a putting green, a sand volleyball court, a three-quarter-mile jogging trail, and an entertainment pavilion with an outdoor kitchen, a pizza oven, and games. Indoors, Navona offers a distinctive clubroom with a poker table and billiards, a private dining room, a social café with beverage taps, a sports lounge with an interactive simulator, a coworking lounge, and a 24/7 micro market. The immense indoor/outdoor fitness center features state-of-the-art equipment and spin and yoga studios. Additional amenities include a maker space for creative pursuits, two dog parks and a pet spa, and numerous multifunctional lawns throughout the community. “Navona’s location places residents at the heart of everything that makes the East Valley so desirable, and our intent was to significantly raise the bar on what a new apartment community could offer in this vibrant area,” said Todd Bowden, Managing Director of Toll Brothers Apartment Living in the Southwest & Mountain region. “With proximity to top-rated golf courses, expansive hiking and biking trails, and cultural attractions, as well as the convenience of the Mesa Gateway Airport just minutes away, Navona offers a connected, active lifestyle paired with exceptional luxury and design.” Navona provides convenient access to the SR-24 expansion and Phoenix-Mesa Gateway Airport and is near major employment centers, including Intel’s Chandler Campus. Residents are minutes from shopping, dining, and outdoor recreation, all within the highly desirable East Valley corridor. Navona is Toll Brothers Apartment Living’s third multifamily community in Arizona after two communities opened in Phoenix: Callia and Haverly, which was sold in 2023. For more information about Navona, visit NavonaMesa.com. ABOUT TOLL BROTHERS APARTMENT LIVING®Toll Brothers Apartment Living® is the apartment development division of Toll Brothers, Inc. (NYSE: TOL), an award-winning Fortune 500 company, and the nation's leading builder of luxury homes. Toll Brothers Apartment Living brings the same quality, luxury, and service for which Toll Brothers is known to its exceptional rental and mixed-use communities in select markets, including Atlanta, Boston, Dallas, Los Angeles, New York, Philadelphia, Phoenix, and Washington, DC. Toll Brothers Apartment Living communities combine the energy of vibrant locations with unparalleled amenities, resident services, design, and the expertise of America’s Luxury Home Builder®. In 2024, Toll Brothers Apartment Living was named to the National Multifamily Housing Council’s Top 25 Largest Developers list, the fifth year it has been so recognized. The firm has completed over 10,000 units nationally, with more than 18,000 units in production. For more information visit TollBrothersApartmentLiving.com. ABOUT TOLL BROTHERSToll Brothers, Inc., a Fortune 500 Company, is the nation's leading builder of luxury homes. The Company was founded 58 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol “TOL.” The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Indiana, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, smart home technology, and landscape subsidiaries. The Company also develops master-planned and golf course communities as well as operates its own lumber distribution, house component assembly, and manufacturing operations. Toll Brothers has been one of Fortune magazine’s World's Most Admired Companies™ for 10+ years in a row, and in 2024 the Company’s Chairman and CEO Douglas C. Yearley, Jr. was named one of 25 Top CEOs by Barron’s magazine. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com. From Fortune, ©2025 Fortune Media IP Limited. All rights reserved. Used under license. Contact: Andrea Meck | Toll Brothers, Senior Director, Public Relations & Social Media | 215-938-8169 | ameck@tollbrothers.com Photos accompanying this announcement are available at:https://www.globenewswire.com/NewsRoom/AttachmentNg/b540137a-bb78-4a31-bc0b-c7194bd7c8c7https://www.globenewswire.com/NewsRoom/AttachmentNg/44f19fd5-9315-4b1c-a9e5-595162bcd8f6https://www.globenewswire.com/NewsRoom/AttachmentNg/ce91911c-3543-4a68-b9a8-cab18d553af6 Sent by Toll Brothers via Regional Globe Newswire (TOLL-REG)

Related News