The Capistrano
Zoning and Entitlements Approved - Development Ready Site
Marketing description
Various Possibilities @ The Capistrano - Redevelopment Site
Multifamily Investor Focused:
The Capistrano – A Transformational Multifamily Opportunity in Booming Glendale
Positioned on 7.5 acres in the heart of Glendale’s fast-growing entertainment and residential corridor, The Capistrano offers a unique opportunity to bring 300+ units to a high-demand rental market. The existing building consists of ±158,597 SF, 3-story shell building as well as 73,772 sf underground parking built with elegant Spanish Colonial architecture—is ready to be reimagined as a premier multifamily community. Owners of the property have city approvals for a proposed 105 dwelling living units in the main existing building as well as another 209 units in a proposed 4-story building along the western edge of the property for a total of 304 units.
With existing zoning support and city encouragement for increased density, developers can capitalize on the site’s flexible layout, below-grade parking, and walkability to the Westgate Entertainment District. Surrounded by shopping, dining, major venues, and new job centers, this location checks all the boxes for renters seeking lifestyle and convenience.
From workforce housing to luxury apartments, The Capistrano delivers the foundation—and the location—for a successful residential project in one of the Phoenix metro’s most active growth corridors.
Healthcare Developer Focused:
The Capistrano – An Exceptional Healthcare Campus Opportunity in Glendale's Medical Corridor
The Capistrano offers healthcare developers a unique, scalable platform for a premier medical or wellness campus in the center of Glendale’s expanding healthcare and entertainment district. With ±158,597 SF of existing shell space and an additional 73,772 SF of underground parking, this three-story facility was originally designed and still is ideally suited for medical offices, surgical centers, behavioral health, or rehabilitation uses.
Originally designed as a high-end medical office condominium, the building showcases custom architecture, healing gardens with water features, and premium infrastructure—including four elevators, separate metering, and fire sprinklers. The City of Glendale supports enhanced density and vertical expansion, allowing visionary healthcare operators to meet increasing regional demand.
With close proximity to major roadways, hospitals, and the bustling Westgate district, The Capistrano is perfectly positioned to become a flagship medical destination.
Hospitality Developer Focused:
The Capistrano – A Boutique Resort or Hotel Development in Glendale’s Entertainment Hub
Unlock the full potential of Glendale’s tourism boom with The Capistrano—a rare hospitality redevelopment opportunity just steps from the iconic Westgate Entertainment District. Encompassing ±232,369 SF across a Spanish Colonial-style complex with serene water features, healing gardens, and subterranean parking, this property is a natural fit for a boutique resort, extended-stay suites, or upscale hotel.
Situated in a high-traffic location surrounded by shopping, dining, major sports venues, and the future VAI Resort, The Capistrano offers the style, space, and infrastructure to deliver an unforgettable guest experience. The city’s supportive redevelopment posture provides flexibility for height and density enhancements, making this a standout opportunity in a high-growth market.
Elevate Glendale’s hospitality scene—and your portfolio—with this landmark destination property.
Investment highlights
1. Prime Location in a High-Growth Corridor
Situated in Glendale, AZ, one of the fastest-growing cities in the Phoenix metro area.
Just steps from the Westgate Entertainment District, State Farm Stadium, and Desert Diamond Arena—drawing millions of visitors annually.
Easy access to major highways and thoroughfares, including Loop 101.
🔹 2. Flexible Redevelopment Potential
±158,597 SF of existing shell building across three stories, plus 73,772 SF of below-grade parking.
Originally designed for luxury medical office condominiums, making it ideal for a wide range of uses:
Multifamily housing (proposed 304-unit concept)
Healthcare facilities (behavioral health, surgery centers, etc.)
Senior housing, hospitality, educational, or professional office uses.
🔹 3. City Support for Height & Density
The City of Glendale has expressed support for increasing height and density on the site.
Potential to add floors or increase unit counts, maximizing development yield and ROI.
🔹 4. High-Quality Architectural Features & Infrastructure
Spanish Colonial architecture with Cantera stonework, balconies, and garden courtyards.
Existing infrastructure includes:
Four elevators
Forced-air HVAC setup
Separate 120/220V meters
Thermal windows and stucco exterior
Fully sprinklered for fire protection
🔹 5. Strong Demographics & Demand Drivers
Within a dense residential and commercial trade area:
Over 253,000 residents within a 5-mile radius
Average household income over $116,000 within 1 mile
Demand driven by proximity to employers, entertainment, retail, and educational hubs
🔹 6. Appealing Site Design and Amenities
Beautifully landscaped with fountains, custom lighting, synthetic turf areas, and a major water feature at the entry.
Underground and surface parking allows for high parking ratios (5/1,000 SF) across varied uses.
🔹 7. Turnkey Opportunity for Visionary Investors
Shell condition allows custom build-out aligned with market needs.
Significant time and cost savings over ground-up development.
Excellent candidate for value-add or build-to-suit repositioning.
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