April 25, 2024 5:47 am
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California build-to-rent developer set to start East Valley project

By Angela Gonzales | Phoenix Business Journal

California-based Family Development and Phoenix-based Mosaic have teamed up to develop a $69 million build-to-rent community in Gilbert.

Called Town Germann, the 209 luxury townhomes will range from 1,193 to 1,379 square feet, with monthly rental rates expected between $2,600 and $2,900. The 14.5-acre gated community will be highly amenitized, including a resort pool and spa, clubhouse, dog park, hammock park and ramada for yoga classes.

Read the full subscription story from the Phoenix Business Journal.

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New home sales post solid gain in March

By NAHB Despite higher interest rates last month, new home sales rose in March due to limited inventory of existing homes. However, the pace of new home sales will be under pressure in April as mortgage rates moved above 7% this

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