A national developer of upscale rental housing has announced plans to build just over 420 new homes at a one-time agricultural site in Glendale, Arizona.
Based in Westlake Village, California, the company, Sunstone Two Three, is making a name for itself in the build-to-rent market, spearheading the development of up to 1,500 residential units.
The company’s plans for Glendale will see the building of both single-family and town homes on a site at the southeast corner of Northern Parkway and N. Sarival Avenue.
The currently vacant site is roughly 20 miles to the west of downtown Glendale.
According to plans, Sunstone Two Three wants to build 218 townhomes, averaging around 1,300 square feet in size. Work will also see the building of 102 detached single-family homes.
The project will also include a swimming pool, spa, fitness center, and parks, among other amenities.
“The numbers of this new type of housing are growing dramatically,” U.S. News & World Report recently observed of the build-to-rent movement, adding that this sector last year saw the construction of around 68,000 units nationally, with growth particularly noted in the South and West.
In a statement, Sunstone Two Three president Scott Maddux said that the new work in Glendale combines the benefits of single family living with the “advantages of renting.”
“The combination of these two qualities,” added Maddux, “really serves to meet the evolving demands of today’s residents.”
The project is being done in conjunction with Capital Square, a vertically integrated national real estate firm based in Glen Allen, Virginia.
By Garry Boulard
