The growth of the single-family build-to-rent product will continue in 2021 and beyond, especially due to shifts in living trends exacerbated by COVID-19. One Phoenix project reflects the robust demand for this product type.
For the build-to-rent 19 North project, Tower Capital arranged $14.225 million in non-recourse construction financing. The plan calls for 96 townhomes that are set within the 19North transit-oriented district, an emerging multigenerational community, at the north end of the light rail line along 19th Avenue between Montebello and Dunlap.
The 19 North unit mix will consist of one-, two- and three-bedroom townhomes, some with attached garages. The gated community features lifestyle amenities such as a pool, house-style great room, multiple flex office spaces, a package room, a pickle ball court and a chef’s kitchen.
The site is near Sprouts, and medical offices for Blue Cross Blue Shield and NHW Community Health.
Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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