Sunstone Hotel Investors Partners on Strategic Build-for-Rent Development in Arizona Housing Market
- Sunstone Two Tree partners with Capital Square to develop a 238-unit build-for-rent community in Buckeye, Arizona.
- The project aims to address housing needs and offers modern amenities, enhancing living experiences for renters.
- This collaboration reflects a commitment to quality development in response to Arizona's growing demand for rental housing.
Strategic Development in Arizona's Housing Market
Capital Square, a key player in tax-advantaged real estate investments, is embarking on an ambitious project with the launch of Capital Square Blue Horizons BFR, LLC. This initiative focuses on raising equity from accredited investors to develop a 238-unit build-for-rent (BFR) community in Buckeye, Arizona. The partnership with co-developer Sunstone Two Tree follows the successful completion of Ironwood Homes at the Rosefield, a previous project featuring 320 BFR units. The new development not only demonstrates Capital Square's ongoing commitment to expanding its portfolio but also underscores the growing demand for quality rental housing in Arizona's rapidly evolving real estate market.
The Buckeye project encompasses a 20.86-acre site located at N. Jackrabbit Trail and W. Blue Horizons Parkway, strategically positioned to benefit from the region's robust economic growth. The community is set to include 88 detached villas, featuring three- and four-bedroom layouts averaging 1,631 square feet, alongside 150 townhomes with two- and three-bedroom options averaging 1,271 square feet. To enhance the living experience, the development will offer a range of amenities, including a clubhouse, pool, fitness center, and playground, catering to the needs of modern families and individuals seeking quality rental options.
Whitson Huffman, co-CEO of Capital Square, highlights the strong fundamentals supporting residential investment in the area, noting the substantial population growth and the diverse economic landscape that includes sectors such as healthcare, finance, and logistics. The ongoing economic expansion, exemplified by the $40 billion investment from Taiwan Semiconductor Manufacturing Company and new healthcare facilities, further strengthens the case for investing in Buckeye. This project aligns with Capital Square’s vision of delivering modern, high-quality rental housing in one of the nation’s most dynamic housing markets, ensuring that the company meets the increasing demand for quality living spaces.
Collaborative Efforts in Housing Development
The collaboration between Capital Square and Sunstone Two Tree marks a significant step in addressing the housing needs in Arizona. With the region's economic indicators pointing towards sustained growth, the strategic location of the new community offers residents easy access to major highways and urban amenities, effectively positioning it as a desirable place to live.
This initiative not only reflects Capital Square's dedication to quality development but also showcases the potential for similar projects to emerge in response to the housing crisis faced by many regions across the United States. The focus on build-for-rent communities could become a pivotal solution in providing affordable housing options while catering to a growing demographic of renters.
