April 25, 2024 11:28 pm
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Hines enters BTR market with Arizona project

(Rendering of Enclave Point. Image courtesy of Hines)

By Jackson Chen | Multihousing News

Hines is entering the build-for-rent sector with its first project in Surprise, Ariz. The company, alongside its joint venture partner New York Life Insurance Co., will develop Enclave Point, a 160-unit community. Hines will start construction on the build-for-rent project in the fourth quarter of 2022, aiming to complete the community in 2024.
Enclave Point is being built on a 12.9-acre site and will offer modern wood-frame apartment-style homes. The community will offer one-bedroom attached units that are around 692 square feet and two-bedroom standalone units that are approximately 1,065 square feet, Jim Bulsiewicz, director at Hines, told Multi-Housing News.

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