New luxury student, multifamily development coming to Tempe

Multifamily and student-oriented real estate developer LV Collective, real estate investment management firm Kayne Anderson Real Estate and insurance company Pacific Life announced May 7 the closing of their newest luxury student-oriented multifamily development in Tempe.

Located at 1020 East Apache Road, Rambler is less than a quarter mile from Arizona State University’s campus, a press release stated.

“We have a strong relationship with best-in-class investors, Kayne Anderson Real Estate and Pacific Life, and look forward to partnering with them again to bring LV’s signature experience-based housing to Tempe,” LV Collective Chief Investment Officer Francisco Rios stated in the release.

The 552,380-square-foot project will feature 289 apartments with a mix of studio, one, two, three and four-bedroom units, offering a total of 829 beds.

“Rambler Tempe represents the continuation of a strategic partnership with LV Collective. We are excited to deliver a best-in-class development to Tempe alongside our partners,” Kayne Anderson’s Senior Managing Director of Student Housing/Multifamily Ken Carl stated in the release.

Rambler will offer a suite of amenities curated for the ASU lifestyle, the release stated. The ground floor will feature an active lobby, including an integrated café, Daydreamer, which will serve handcrafted espresso drinks, coffee, tea and artisan pastries and snacks.

The study mezzanine will offer spaces for coworking and private study rooms. Residents can enjoy a shaded courtyard with lush landscaping, content creation rooms, a clubroom, two pools, two hot tubs and a jumbotron.

Rounding out the wellness amenities, Rambler will include a two-level fitness facility with a fitness on-demand studio, yoga studio, fireplaces, tanning beds and rooftop terrace and resident lounge.

"We’re excited to bring our design-forward student housing to Tempe. With a prime location, close to Arizona State’s campus and the Phoenix/Tempe light rail system and unmatched amenities designed specifically for ASU students, Rambler will be an attractive addition to the area,” LV Collective CEO David Kanne stated in the release.

Site work on Rambler began in March 2024 and the property is scheduled to deliver in fall 2026 in time for the 2026-2027 academic year, according to the release.

Pacific Life is providing debt for the project. Project partners include Shepley Bulfinch as the architect, Layton as the general contractor and Variant Collaborative for interior design.