In Q4, there were four new apartment projects started (966u), three in Phoenix and one in Scottsdale. There are a total of 20 now under construction representing 3,785 units. Nine projects were completed in Q4 totaling 1,914 units. These included three in Scottsdale (388u, 325u and 264u) two projects in Phoenix (225u and 132u) and two in Tempe (384u and 50u), one in Mesa (81u) and one in Youngtown (65u). In addition, there are 80 projects in various stages from initial rezoning to final permitting – representing 18,782 units. Details of each project and a map showing the location of the current construction activity is posted on our web site under “Apartments’ – “Market Data”.