(Disclosure: Rose Law Group represents Christopher Todd Communities and The Empire Group.)
By Angela Gonzales | Phoenix Business Journal
With more than 5,000 existing units and more than 6,900 more units under construction in metro Phoenix, the wildly popular build-to-rent sector is continuing to explode in Arizona and is now building momentum across the nation. With 32 build-to-rent communities already in place across the Valley, there are another 34 projects under construction, according to research Colliers International conducted exclusively for The Phoenix Business Journal.
These unique units are growing in popularity, commanding average monthly rental rates of $1,990 at a time when occupancy is at 96.8%, according to Colliers International research.