Single-Family Build-to-Rent Product Picks Up Steam
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.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).