The Mystic community is the firm's largest single-site commitment to date and marks a meaningful expansion of Ascent's footprint in the West Valley. Work has commenced on grading and vertical construction, with first deliveries targeted in the coming cycles.
Why Peoria
Peoria has emerged as one of the Valley's top-performing submarkets on a range of fundamentals — employment growth, school quality, healthcare infrastructure, and an expanding retail node. The city has experienced sustained population growth as regional migration continues to favor the Phoenix MSA, and in particular the West Valley where housing supply has struggled to keep pace with demand.
Ascent selected the Mystic site after an extensive market analysis process. The site sits along a high-traffic corridor with frontage, visibility, and proximity to major employment and retail anchors — all factors the firm's site-selection models weight heavily.
Two Assets, One Campus
The Mystic community includes two distinct but connected components:
- The Stately Mystic Townhomes — 140 build-to-rent townhomes offering detached and attached single-family-style living with private yards and integrated garages.
- The Stately Mystic Apartments — 288 Class A multifamily residences across a curated mix of one-, two-, and three-bedroom units.
Both assets share a central amenity hub including a resort-style pool, clubhouse with co-working lounge, fitness center, and pickleball courts. The combined campus approach gives residents access to a broader amenity package than either asset could support on its own.
Executed In-House
Ascent Construction Group is executing the build with the firm's integrated pre-construction, scheduling, and cost-control model. The combined scale of the Mystic project provides opportunities for efficiencies in procurement, subcontractor allocation, and site logistics.
Interested investors and partners can connect with our team for more information about current and upcoming opportunities.