Out-of-state developers plan thousands of build-to-rent units in metro Phoenix
It appears build-to-rent developments are more than a passing fancy, particularly in Arizona’s red-hot housing market. Developers from California and Georgia are each planning to construct 1,000 such homes ranging from three-story townhomes to detached single-family homes. Family Development out of Palm Desert is breaking ground this month on two luxury lease developments in Litchfield Park and Goodyear, while its Town Germann homes in Gilbert were expected to open for lease in mid-March. Atlanta-based builder Trilogy, meanwhile, is expected to break ground on its first community in Avondale in May, and says the Valley represents 30 percent of its total pipeline.