Rockefeller Group has acquired two sites for the development of 152 build-to-rent townhomes. The two sites, approximately 1.75 miles apart, total 16.5 acres and are located in Phoenix’s booming South Mountain corridor. Groundbreaking on both sites is expected this summer with first occupancies projected for first quarter 2025. 

The first site, located at 8181 S. 20th St, is 9.2 acres and sold for $4.9 mil. The seller was The Bruckal Group. The second site, located at 825 E. Euclid Ave, is 7.34 acres and was purchased for $3.8 mil in an off-market transaction. The seller was Proximity Rental Homes. The project will be in close proximity to Arizona State University and surrounding communities via I-10.

The townhomes will range from 1,100 square feet to 1,500 square feet with two and three bedrooms. The Euclid Ave site will have 27 garages available for lease to residents. Both sites will have a pool, hot tub, dog park and other open space amenities.