Tucson-Based Developer HSL Building Marana BTR Community
HSL Properties has paid $25,000 a lot for an entitled 50 acre parcel in Marana, Arizona, just outside Tucson. The total purchase price was $9.45 million. This will be HSL’s first build-to-rent project. It has developed or owns dozens of apartment communities located in Tucson, Phoenix, Casa Grande, and Yuma. The property will be able to allow for 378 build-for-rent lots at Thornydale and Tangerine, just off I-10. The seller was H2T Partners of Tucson.
Moderne Communities recently purchased land for the purpose of a built-to-rent project in Marana. It’s hoping to have its first units done before the end of this year. MODERNE is working on another BRT development at Rocking K. It will include 224 single-story homes for rent just east of Tucson. According to Rent Cafe, Tucson ranks third in the nation for BTR projects.