American real estate operator and developer Sunstone Two Tree, with its partner Capital Square, is set to build three new build-to-rent (BTR) communities in Arizona, US.
Upon completion, these three communities will feature a total of more than 550 single-family rental units.
The first community is a 320-unit development with 102 detached single-family houses of 1,655ft² and 218 townhomes of 1,257ft². It will be built on a 29-acre plot of land at Northern Parkway and N Sarival Avenue in the city of Glendale.
Each of these units will have two floors, a private garden, and direct garage access, as well as access to amenities such as a fitness centre, pool, and barbecue.
Construction works are expected to commence next month.
The second development will be located in Tolleson, on a 7.64-acre plot of land. This site will feature 143 three-bedroom, two-storey townhomes with a two-car garage and private garden.
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Situated at S 91st Ave and W Lower Buckeye Road in Phoenix, the third community will comprise 88 three-bedroom townhouses with attached, two-car garages and private gardens, similar to the second development.
These final two communities will have playgrounds, pickleball courts, and parks, among other amenities.
All three communities will offer quick access to Downtown Phoenix, Sky Harbor International Airport, nearby motorways, shopping areas, schools, and more.
Sunstone president Scott Maddux said: “We are pleased to start these three new projects despite significant headwinds in the current economic environment.
“These communities combine the benefits of single-family living (larger units, dedicated parking, private yard space) with the advantages of renting (flexibility, amenities and minimal maintenance responsibilities).”
Sunstone Two Tree presently has nine BTR communities in Arizona, totalling approximately 1,500 units, which are under progress.