Porter Kyle’s The Wayne, a 100-unit build-to-rent townhome community in Chandler, has been selected as one of 50 Projects to Know (PTK) in 2027.
Capital keeps flowing in, more residents are on the way and property fundamentals are strengthening as new supply gets absorbed.
The apartment market is turning a corner, slowly. Supply is receding, rent growth is improving and BTR is proving its staying power.
The build-to-rent sector is entering a new phase, one defined less by growth-at-any-cost optimism and more by underwriting rigor, location precision and full-lifecycle thinking. Capital is getting more selective about which deals it will fund. Developers are zeroing in on hyper-local competition rather than riding citywide trends or the herd
Phoenix’s growth story keeps finding new chapters. A national boomtown ranking, a nearly doubled semiconductor investment, a freshly approved $3 billion mixed-use megaproject in Mesa, and a citywide shift toward urban infill all point to a metro still firmly in expansion mode, even as the broader Arizona economy shows some
The U.S. apartment market is regaining its footing, but unevenly. Rent growth is accelerating, the historic construction wave that defined the past three years is finally receding, and supply is on track to bottom out in 2027. For Sun Belt metros like Phoenix that absorbed the brunt of that building
Phoenix’s multifamily market posted its strongest first half of demand on record in 2026. Net absorption totaled 13,300 units across the first two quarters, a 68% jump from the first half of 2025 and well above the previous first-half high of 9,500 units set in 2021, according to CoStar. Completions,
The multifamily construction pipeline continues to thin out nationally. Yardi Matrix’s Q3 2026 supply forecast nudged 2026 completions up 2.5% to roughly 490,000 units, largely on updated under-construction data rather than a change in outlook. The bigger story is what comes next: new supply is still expected to bottom in
Porter Kyle recently celebrated the Grand Opening of The Wayne, a 100-unit, high-end Townhome BTR community in Chandler, AZ, where the first residents are now settling in and making it home. Outside, The Wayne feels less like an apartment complex and more like a neighborhood, where landscaped streets, inviting common
Affordability keeps sliding even as price growth cools. The National Association of Realtors’ latest index shows homebuyer affordability fell for a fifth straight month, with a buyer now needing roughly $109,000 in income to qualify for a median-priced home at today’s 6.57% mortgage rate, up from about $93,500 in January.
The 21st Century ROAD to Housing Act became law at midnight on July 11, 2026. What matters for CRE about this legislation is this is the most significant federal housing package in roughly three decades, and it landed with rare bipartisan force. The package advances major reforms to modernize federal
Phoenix’s apartment market is turning a corner. CoStar named the metro one of the 10 most improved multifamily markets in the country this year, a notable shift for a market that spent the last two years working through oversupply. Vacancy fell from 12.3% to 11.7% year-over-year, and CoStar projects it
For months, one of the most in-demand housing sectors in the country has been effectively frozen. Not because of a lack of renters, not because of a lack of capital, and not because of weak fundamentals, but because of legislative uncertainty. The 21st Century ROAD to Housing Act, now passed
The Wayne isn’t waiting for its grand opening to prove the market. Porter Kyle’s newest BTR townhome community in Chandler has generated strong pre-leasing activity, consistent tour volume, and a growing lead pipeline, all before the first resident has turned a key. That kind of early momentum doesn’t happen by
Supply Tightens, Phoenix Strengthens, and the Path Forward Comes into Focus The national housing market is navigating a distinct inflection point. Supply is contracting. New starts are slowing. The macroeconomic picture is mixed but stabilizing. And for developers with conviction in high-growth Sun Belt markets, the conditions ahead may look
Phoenix-based Porter Kyle Builders continues to build up its Build-to-Rent homebuilding operations with the addition of CRE veteran John Rowland as Vice President of Construction. Rowland brings more than 25 years of residential construction experience, including leadership roles with four national homebuilders. Throughout his career, he has overseen a wide
After several years of rapid expansion and outsized rent growth, the single-family rental (SFR) sector is entering a more measured phase in 2026, defined less by acceleration and more by stabilization. Yet beneath the surface, the fundamentals that have driven the sector’s rise remain firmly intact. Recent data from Yardi Matrix shows
Taylor Shultz, a Partner at Porter Kyle, shares his take on where the Phoenix market stands today. Phoenix is no longer behaving like a single market. From your perspective at Porter Kyle, which submarkets are still supporting new multifamily development today – and where are fundamentals, costs or municipal constraints
The numbers are hard to ignore. Across the United States, 59 projects totaling more than $624 billion in capital investment are underway, each one a billion-dollar-plus commitment to domestic manufacturing, technology, and advanced industry. And no state is capturing more of that investment than Arizona, which leads the nation with
The first quarter of 2026 handed the BTR sector something it hasn’t had in a while: clarity. Not the kind that comes from wishful forecasting, but from actual data, absorption numbers that outpace expectations, a supply pipeline that’s finally contracting, and a broader affordability story that keeps funneling renters toward
Greater Phoenix continues to make a compelling case as a market where the long-term story and the near-term data are aligned. This spring, a convergence of migration trends, housing activity, corporate movement, and job creation is reinforcing the notion that the Valley’s growth isn’t a cycle, it’s a structural realignment.
Source: AZBigMedia The Phoenix housing market continues to evolve in ways that reflect both national pressures and uniquely local dynamics. From shifting investor behavior to changing renter demographics, the latest data paints a picture of a market that’s still growing—but doing so more thoughtfully than in the frenzied years of the early 2020s.
Sources: Arizona Commerce Authority – International Trade & Foreign Direct Investment Reports (2020–2025) / fDi Markets (by Financial Times) – U.S. state FDI project tracking and rankings / Bureau of Economic Analysis – Foreign Direct Investment in the United States (FDIUS) datasets / Greater Phoenix Economic Council – Regional investment announcements and summaries
8.5-acre site at Crismon Road and U.S. 60 will deliver three- and four-bedroom townhomes with direct-access garages and private backyards Porter Kyle received unanimous approval this month from the City of Mesa City Council for zoning entitlements for The Lincoln, an 8.5-acre townhome community planned at Crismon Road and Highway
Build-to-rent housing is experiencing a defining moment. After years of steady growth, the product type is poised to become a mainstream housing solution, driven by compelling economics, changing renter demographics, and a unique ability to deliver what today’s renters actually want: the space and feel of a single-family home without
Something fundamental is shifting in how Americans think about housing. The white picket fence and 30-year mortgage that defined success for previous generations are giving way to a new reality—one where renting isn’t just a temporary stop on the way to homeownership, but an intentional lifestyle choice. And nowhere is
Something remarkable is happening in the Valley of the Sun. Over the past year, Phoenix has swiftly become the place where America’s tech future is being built, attracting more than $210 billion in investments from some of the world’s biggest names in semiconductors and advanced manufacturing. It’s not just about
CHANDLER, ARIZ. — Scottsdale, Ariz.-based Porter Kyle has broken ground on The Wayne, a $60 million multifamily build-to-rent (BTR) project situated on an infill site at 1535 N. Dobson Road in Chandler. The first units are slated for delivery in spring 2026. The community will feature 100 one-, two- and
Phoenix closes out 2025 in a position that many Sunbelt markets would envy—powered by record job creation, a surge of high-profile corporate investment, nation-leading construction activity, and durable demand across multifamily and build-to-rent (BTR) housing. At the same time, the region is working through one of the most prolonged supply
The Counter-Intuitive Truth: Today’s Challenges Create Tomorrow’s Opportunities In a market experiencing widespread rent declines and elevated vacancy, suggesting now is the time to break ground on new build-to-rent projects might seem counterintuitive. But smart developers understand that real estate success isn’t about timing the market perfectly—it’s about positioning projects
Company: Porter Kyle Taylor Shultz is a partner of Porter Kyle, a Phoenix, AZ-based vertically integrated builder and developer that builds for its own portfolio and serves as a third-party general contractor on build-to-rent and multifamily projects for other developers. He brings over 20 years of experience in acquisition, development,
Multifamily Investment Momentum Builds Despite Market Headwinds The multifamily sector continues to attract significant investor attention as we close out 2025. Improved capital access and rising transaction volumes are working to offset lingering economic uncertainties. Recent market reports from CBRE, RealPage, and MSCI paint a picture of cautious optimism, though
Phoenix continues to demonstrate its staying power as a top-tier multifamily market, maintaining its position as the 10th-ranked market in PwC and Urban Land Institute’s prestigious Emerging Trends in Real Estate 2026 report. This marks the second consecutive year Phoenix has held within the top 10 markets to watch, signaling sustained confidence
The Cleveland, Porter Kyle’s 100-home build-to-rent community in Goodyear, has hit a significant milestone by reaching 50% leased just months after its grand opening. The achievement reflects strong market reception for thoughtfully designed single-family rental living in one of Phoenix’s most dynamic growth corridors. “Hitting the 50% leased benchmark is
Each year, PTK magazine — a publication of AZ Big Media — showcases the top people and projects to know in Arizona’s commercial real estate sector. Pulling from a competitive pool of nominations and the editorial board’s knowledge of the industry, this annual edition highlights 50 meaningful projects across all
BTR/Land Deal of the Year This award will recognize the best BTR or land deal of the past year. Factors to consider include land acquisition to entitlement and construction, deal size, due diligence, community relations and sale structure. Finalists: ARK Homes for Rent – The Station at Kentmere Berkadia –
Porter Kyle’s $60-million The Wayne build-to-rent townhome community in Chandler continues to move full steam ahead—this time with visible momentum above ground. The development has officially completed all underground utilities and stormwater systems, paving the way for foundation work and vertical construction to begin. “Finishing underground is a huge milestone,” said Taylor Shultz,
A new wave of wealth and a shifting affordability landscape are reshaping the housing market in Greater Phoenix — and redefining what “home” means for both affluent and aspiring residents. Between 2019 and 2023, the number of millionaire renters in Greater Phoenix rose by 519%, making it the fastest-growing millionaire hub in
If you’ve been watching the housing headlines lately, you know the story has shifted. After years of soaring prices and bidding wars, the conversation is no longer about frenzy — it’s about balance. But that balance is proving harder to find than anyone expected. According to JPMorgan’s latest housing analysis, the
In an environment where housing affordability, demographic shifts, and institutional capital are converging, Build-to-Rent (BTR) has quickly evolved from a niche development model to one of the most sought-after alternative real estate sectors. For wealth managers and RIAs, the strategy offers exposure to the long-term fundamentals of U.S. housing, paired
Taylor Shultz Taylor Shultz, Partner at Porter Kyle, leads a Phoenix-based builder and developer focused on townhome-style build-to-rent multifamily projects. Shultz brings more than two decades of expertise in multifamily acquisitions, development, financing, and management, with Porter Kyle overseeing three BTR developments totaling about $150 million in entitlements across Phoenix’s
Goodyear, AZ, September 17, 2025 — Porter Kyle, a Scottsdale-based vertically integrated multifamily BTR developer and general contractor, announced the closing of a $28,500,000 refinance for The Cleveland, a newly constructed 100-home build-to-rent community located at 1035 N. Sarival Avenue, Goodyear, AZ. The financing was arranged by Northmarq’s Debt &
$28.5 Million Refinance Validates Success of Porter Kyle’s Premier Build-to-Rent Community The Cleveland’s recent $28.5 million refinancing represents an important validation of Porter Kyle’s development strategy and execution capabilities in the competitive build-to-rent sector. This newly delivered 100-home community in Goodyear, Arizona has achieved remarkable success metrics that attracted significant
The build-to-rent (BTR) townhome market continues to gain momentum as more renters seek housing options that combine the comfort of single-family living with the flexibility of renting. For today’s renters, the appeal of a townhome goes well beyond square footage—it’s about lifestyle, convenience, and long-term livability. A recent Zillow study
Phoenix Metro clearly has established itself as America’s undisputed economic powerhouse. Proof point No. 1: Eight Phoenix-area cities now rank among the top 10 municipalities nationwide with the strongest economic growth. If you want more evidence: the Phoenix metro achieved an extraordinary GDP growth between 2019 and 2023, while business
The multifamily sector is experiencing a fundamental shift in demand dynamics that extends far beyond headline absorption numbers. While the industry’s achievement of 530,000 net absorbed units over the past twelve months represents the strongest performance since the pandemic boom period, the most significant development lies in how this demand
BTR developer Porter Kyle closed a $28.5 million refinance for The Cleveland, a newly constructed 100-home build-to-rent community located at 1035 N. Sarival Avenue, Goodyear, AZ. The financing was arranged by Northmarq’s Debt & Equity team, led by Brandon Harrington and Tyler Woodard. Northmarq’s Harrington added, “The West Valley remains one of the most active and
The Cleveland reached construction completion in July 2025 and recently held its grand opening, with 25% of homes already leased. Porter Kyle, a Scottsdale-based vertically integrated multifamily BTR developer and general contractor, announced the closing of a $28,500,000 refinance for The Cleveland, a newly constructed 100-home build-to-rent community located at 1035
Early on in Connect CRE’s 2025 Summer Leadership Series, we presented the views of four key industry figures on hedging strategies for the current market volatility. Unsurprisingly, the question is one that many industry leaders have considered, and here we present responses from four more. Below you’ll find insights from Daniel
A Vision That Hit the Mark When Porter Kyle set out to develop The Ashley, it wasn’t just building another set of rental homes—the BTR developer was anticipating what Chandler’s residents would want next. The firm saw a gap in the market for upscale, low-maintenance living with the feel of
If it feels like Phoenix is in the middle of a boom, that’s because it is. The Valley is no longer just a place for sunshine and golf—it’s turning into one of the most exciting, fastest-growing innovation hubs in the country. From billion-dollar tech investments to new direct flights to
The Phoenix multifamily market is in the midst of a dynamic period defined by record-setting absorption, strong rental demand, and evolving development patterns. Against a backdrop of shifting national housing trends, the metro is seeing robust activity in both traditional apartment construction and the fast-growing build-to-rent (BTR) sector, particularly townhome-style
At the July meeting of the Federal Reserve’s Federal Open Market Committee, the benchmark effective federal funds rate was left unchanged. The FOMC last cut the EFFR, by a quarter point, in November 2024, and as 2025 began, it was expected that the committee would continue to loosen monetary policy.
For the third year in a row, Connect CRE is launching a summer Leadership Series. This year, the focus is on the near-term prospects for commercial real estate, and we have asked key industry executives for their assessments. For the inaugural installment, we asked about the likelihood of a general
The American dream isn’t dead—it’s just being redefined. As affordability challenges grow and life paths shift, more people are choosing to rent for longer, and in many cases, permanently. For multifamily owners and developers, this represents more than a cyclical shift—it’s a structural opportunity. Recent data and industry insights paint
Porter Kyle’s $60-million The Wayne Build-to-Rent townhome community in Chandler just cleared a significant milestone that sets the stage for the entire development process to unfold. This month, crews completed the installation of seven storm tanks across The Wayne’s site, which means mass grading and pad development can now begin in
Phoenix has long been known for its sunshine and sprawl, but in 2025, it’s earning a new reputation—as one of the country’s most dynamic engines of economic growth. A confluence of tech sector expansion, manufacturing investment, and historic job creation is reshaping the region’s trajectory and fueling strong demand across
Mid-Year Housing Market Update: A Chilly Spring and Glimmers of Rental Resilience By Taylor Shultz (who attended the John Burns Research webinar, so you didn’t have to) If you were hoping for a mid-year housing market pep talk, the John Burns Research team had some sobering news during their recent
Build-to-Rent Housing Evolves: Porter Kyle Bets on Townhome-Style Communities Housing preferences continue to shift across the U.S., and build-to-rent (BTR) has emerged as a fast-growing segment in residential development. Once dominated by traditional apartment complexes, the BTR model now encompasses a range of formats—single-family detached homes, duplexes, horizontal apartments “villa”,
Millennial Homeownership Trends and the Rise of Build-to-Rent Living Millennials are now America’s largest generation, but when it comes to homeownership, they’re falling far behind their parents—and redefining what the American Dream looks like. In fact, just 47% of Millennials own homes, compared to 65% of Gen Xers and 74% of Baby Boomers, according
Groundbreakings 1. Flexjet has broken ground on a $36M private terminal at Scottsdale Airport. The project includes a 9.5KSF office, 34KSF hangar, 9KSF terminal, 2.4KSF terrace and 29KSF underground car park. The terminal will be located at 15115 N. Airport Drive and is expected to open in late 2026. It
Developer Porter Kyle broke ground in mid-April on “The Wayne,” a $60 million townhomes-for-rent build in north Chandler, according to a news release. The 100-unit community is one of the only build-to-rent townhome developments in Chandler, the release claims, and is expected to help meet increased market demand for housing.
Locally based developer Porter Kyle has completed development of The Cleveland in Goodyear, Ariz. GOODYEAR, ARIZ. — Scottsdale, Arizona-based builder and developer Porter Kyle has completed development of The Cleveland, a build-to-rent (BTR) asset in Goodyear, which is in Phoenix’s West Valley. The 100-unit, townhome style property is Porter Kyle’s
Porter Kyle reached a key milestone on The Cleveland Build-to-Rent (BTR) project in Phoenix’s West Valley. The Scottsdale-based vertically integrated multifamily builder and developer recently commemorated the opening of the 100-unit townhome-style BTR community in Goodyear. The Cleveland’s newly completed clubhouse facility signals the imminent arrival of its first residents. Taylor Shultz,
Curtain Raised on The Cleveland, Latest PHX BTR Community Makes Debut in West Valley Porter Kyle reached a key milestone on The Cleveland Build-to-Rent (BTR) project in Phoenix’s West Valley. The Scottsdale-based vertically integrated multifamily builder and developer recently commemorated the opening of the 100-unit townhome-style BTR community located in
Phoenix Market Surges as Advanced Manufacturing, Population Boom Shape the Region’s Future Phoenix is undergoing a remarkable transformation that’s as unexpected as it is uplifting, fueled by explosive growth in advanced manufacturing and a population boom in the East Valley. Recent reports from the Arizona Commerce Authority (ACA), Site Selection
SFR’s Share of Rental Market Expands Single-family rentals (SFRs) now are the fastest-growing segment of the U.S. rental market, reaching a five-year high in market share, according to a Point2Homes analysis of Yardi Matrix data. This surge is largely driven by millennials who face ongoing challenges in affording homeownership. Increasingly,
Porter Kyle Breaks Ground on The Wayne, a $60-Million BTR Townhome Development in Chandler, AZ Porter Kyle broke ground this month on The Wayne, a roughly $60-million multifamily Build-to-Rent (BTR) project in Chandler, Ariz. The 100-unit community is one of the only BTR townhome developments in Chandler and is expected
Demand for BTR housing is projected to rise in the coming years as younger adults delay starting families. Millennials are forming households later and that pause is expected to result in home ownership being pushed back, as well. The rental housing market will likely benefit since a generation of 73
Location: Warner and Dobson roads in Chandler Description: The Wayne, a $60 million single-family rental development is being built by Scottsdale-based Porter Kyle, a multifamily builder and developer. The project will include 100 units and is Porter Kyle’s second project in Chandler. The project will have units ranging from one
DEVELOPMENT: Porter Kyle breaks ground on Arizona BTR. Porter Kyle has broken ground on The Wayne, a $60 million BTR townhome community in Chandler, Arizona. This 100-unit development marks the firm’s eighth BTR project and its second in Chandler, offering a rare townhome rental option in the area. The Wayne
Porter Kyle, a Scottsdale-based vertically integrated multifamily builder and developer, broke ground on The Wayne, a roughly $60-million multifamily Build-to-Rent (BTR) project in Chandler, Arizona. Taylor Shultz, Partner of Porter Kyle, said, “Chandler is one of the region’s premier submarkets and continues to hold strong appeal across multiple demographic sectors.
Scottsdale-based Porter Kyle is charging ahead with $175 million worth of townhome rental projects in the Valley even as the rest of the nation takes a pause in construction. Developers in other parts of the U.S. are already seeing an 80% drop in multifamily starts. Taylor Shultz, partner of Porter
Source: https://crenews.com/2025/03/07/work-starts-on-60mln-apartment-project-in-chandler-ariz/ Commercial Real Estate Direct
Porter Kyle broke ground on The Wayne, a $60-million multifamily Build-to-Rent (BTR) project in Chandler, Ariz. The 100-unit community is one of the only BTR townhome developments in Chandler. The project is Porter Kyle’s eighth BTR townhome community and is the firm’s second project in Chandler. The Wayne is expected
Scottsdale-based Porter Kyle broke ground on The Wayne, a $60 million, 100-unit townhome project in Chandler. Construction starts are down in the multifamily sector, but one Scottsdale developer isn’t paying attention and is going full speed ahead. Here’s where the developer is building next. Source: https://www.bizjournals.com/phoenix/news/2025/03/05/porter-kyle-scottsdale-developer-housing-projects.html Phoenix Business Journal
Porter Kyle, a Scottsdale Arizona based multifamily builder and developer has broken ground on The Cleveland, a 100-unit townhome rental community in Goodyear Arizona, and is expected to start leasing next spring. Porter Kyle recently completed construction on The Prescott at Park West in Peoria and just completed construction on
The Ashley Luxury Townhomes Open in the Heart of Chandler Class A Townhome Community in Chandler, AZ Scottsdale based Porter Kyle announced the opening of the highly anticipated Ashley Luxury Townhomes, in Chandler, AZ. The luxury community designed by Porter Kyle architects and developed by Porter Kyle Builders, is actively
Porter Kyle Opens Highly Anticipated Prescott at Park West Class A Townhome Community in Peoria, AZ Scottsdale based Porter Kyle announced the opening of the highly anticipated Prescott at Park West, in Peoria, AZ. The luxury community designed by Porter Kyle architects and developed by Porter Kyle Builders, is actively
Porter Kyle Opens The Carson in Gilbert, AZ Class A Townhome Community for Lease Scottsdale, August 2022 – Porter Kyle, a Scottsdale based residential lifestyle developer has opened its newest luxury townhome community at 13200 S Gilbert Rd, in Gilbert, AZ, less than two miles from Gilbert’s Heritage District. Managed
Porter Kyle Closes on BTR Site Class A Townhome Community for Site PHOENIX, July, 2022 – Porter Kyle, a Scottsdale residential lifestyle developer, has paid $2,034,000 for 6.23 acres of land at 1003 N. Sarival Ave. in Goodyear, AZ. The company plans to build a Class A townhome community on
Porter Kyle, a Scottsdale-based multifamily builder and developer specializing in horizontal, build to rent space, is quickly adding new luxury townhomes across the Valley, with more than 250 units in different stages of construction and entitlement and the recent sale of their 18-unit Monarch Luxury Townhomes. Located at 2335 E. Utopia Road in North Phoenix,
Phoenix-based Porter Kyle Builders continues to build up its Build-to-Rent homebuilding operations with the addition of CRE veteran John Rowland as Vice President of Construction. Rowland brings more than 25 years of residential construction experience, including leadership roles with four national homebuilders. Throughout his career, he has overseen a wide
Taylor Shultz, a Partner at Porter Kyle, shares his take on where the Phoenix market stands today. Phoenix is no longer behaving like a single market. From your perspective at Porter Kyle, which submarkets are still supporting new multifamily development today – and where are fundamentals, costs or municipal constraints
Build-to-rent housing is experiencing a defining moment. After years of steady growth, the product type is poised to become a mainstream housing solution, driven by compelling economics, changing renter demographics, and a unique ability to deliver what today’s renters actually want: the space and feel of a single-family home without
CHANDLER, ARIZ. — Scottsdale, Ariz.-based Porter Kyle has broken ground on The Wayne, a $60 million multifamily build-to-rent (BTR) project situated on an infill site at 1535 N. Dobson Road in Chandler. The first units are slated for delivery in spring 2026. The community will feature 100 one-, two- and
Company: Porter Kyle Taylor Shultz is a partner of Porter Kyle, a Phoenix, AZ-based vertically integrated builder and developer that builds for its own portfolio and serves as a third-party general contractor on build-to-rent and multifamily projects for other developers. He brings over 20 years of experience in acquisition, development,
Each year, PTK magazine — a publication of AZ Big Media — showcases the top people and projects to know in Arizona’s commercial real estate sector. Pulling from a competitive pool of nominations and the editorial board’s knowledge of the industry, this annual edition highlights 50 meaningful projects across all
In an environment where housing affordability, demographic shifts, and institutional capital are converging, Build-to-Rent (BTR) has quickly evolved from a niche development model to one of the most sought-after alternative real estate sectors. For wealth managers and RIAs, the strategy offers exposure to the long-term fundamentals of U.S. housing, paired
Goodyear, AZ, September 17, 2025 — Porter Kyle, a Scottsdale-based vertically integrated multifamily BTR developer and general contractor, announced the closing of a $28,500,000 refinance for The Cleveland, a newly constructed 100-home build-to-rent community located at 1035 N. Sarival Avenue, Goodyear, AZ. The financing was arranged by Northmarq’s Debt &
BTR developer Porter Kyle closed a $28.5 million refinance for The Cleveland, a newly constructed 100-home build-to-rent community located at 1035 N. Sarival Avenue, Goodyear, AZ. The financing was arranged by Northmarq’s Debt & Equity team, led by Brandon Harrington and Tyler Woodard. Northmarq’s Harrington added, “The West Valley remains one of the most active and
The Cleveland reached construction completion in July 2025 and recently held its grand opening, with 25% of homes already leased. Porter Kyle, a Scottsdale-based vertically integrated multifamily BTR developer and general contractor, announced the closing of a $28,500,000 refinance for The Cleveland, a newly constructed 100-home build-to-rent community located at 1035
Early on in Connect CRE’s 2025 Summer Leadership Series, we presented the views of four key industry figures on hedging strategies for the current market volatility. Unsurprisingly, the question is one that many industry leaders have considered, and here we present responses from four more. Below you’ll find insights from Daniel
At the July meeting of the Federal Reserve’s Federal Open Market Committee, the benchmark effective federal funds rate was left unchanged. The FOMC last cut the EFFR, by a quarter point, in November 2024, and as 2025 began, it was expected that the committee would continue to loosen monetary policy.
BTR/Land Deal of the Year This award will recognize the best BTR or land deal of the past year. Factors to consider include land acquisition to entitlement and construction, deal size, due diligence, community relations and sale structure. Finalists: ARK Homes for Rent – The Station at Kentmere Berkadia –
Taylor Shultz Taylor Shultz, Partner at Porter Kyle, leads a Phoenix-based builder and developer focused on townhome-style build-to-rent multifamily projects. Shultz brings more than two decades of expertise in multifamily acquisitions, development, financing, and management, with Porter Kyle overseeing three BTR developments totaling about $150 million in entitlements across Phoenix’s
8.5-acre site at Crismon Road and U.S. 60 will deliver three- and four-bedroom townhomes with direct-access garages and private backyards Porter Kyle received unanimous approval this month from the City of Mesa City Council for zoning entitlements for The Lincoln, an 8.5-acre townhome community planned at Crismon Road and Highway
The Cleveland, Porter Kyle’s 100-home build-to-rent community in Goodyear, has hit a significant milestone by reaching 50% leased just months after its grand opening. The achievement reflects strong market reception for thoughtfully designed single-family rental living in one of Phoenix’s most dynamic growth corridors. “Hitting the 50% leased benchmark is
Porter Kyle’s The Wayne, a 100-unit build-to-rent townhome community in Chandler, has been selected as one of 50 Projects to Know (PTK) in 2027.
Capital keeps flowing in, more residents are on the way and property fundamentals are strengthening as new supply gets absorbed.
The apartment market is turning a corner, slowly. Supply is receding, rent growth is improving and BTR is proving its staying power.
The build-to-rent sector is entering a new phase, one defined less by growth-at-any-cost optimism and more by underwriting rigor, location precision and full-lifecycle thinking. Capital is getting more selective about which deals it will fund. Developers are zeroing in on hyper-local competition rather than riding citywide trends or the herd
Phoenix’s growth story keeps finding new chapters. A national boomtown ranking, a nearly doubled semiconductor investment, a freshly approved $3 billion mixed-use megaproject in Mesa, and a citywide shift toward urban infill all point to a metro still firmly in expansion mode, even as the broader Arizona economy shows some
The U.S. apartment market is regaining its footing, but unevenly. Rent growth is accelerating, the historic construction wave that defined the past three years is finally receding, and supply is on track to bottom out in 2027. For Sun Belt metros like Phoenix that absorbed the brunt of that building
Phoenix’s multifamily market posted its strongest first half of demand on record in 2026. Net absorption totaled 13,300 units across the first two quarters, a 68% jump from the first half of 2025 and well above the previous first-half high of 9,500 units set in 2021, according to CoStar. Completions,
The multifamily construction pipeline continues to thin out nationally. Yardi Matrix’s Q3 2026 supply forecast nudged 2026 completions up 2.5% to roughly 490,000 units, largely on updated under-construction data rather than a change in outlook. The bigger story is what comes next: new supply is still expected to bottom in
Affordability keeps sliding even as price growth cools. The National Association of Realtors’ latest index shows homebuyer affordability fell for a fifth straight month, with a buyer now needing roughly $109,000 in income to qualify for a median-priced home at today’s 6.57% mortgage rate, up from about $93,500 in January.
The 21st Century ROAD to Housing Act became law at midnight on July 11, 2026. What matters for CRE about this legislation is this is the most significant federal housing package in roughly three decades, and it landed with rare bipartisan force. The package advances major reforms to modernize federal
Phoenix’s apartment market is turning a corner. CoStar named the metro one of the 10 most improved multifamily markets in the country this year, a notable shift for a market that spent the last two years working through oversupply. Vacancy fell from 12.3% to 11.7% year-over-year, and CoStar projects it
For months, one of the most in-demand housing sectors in the country has been effectively frozen. Not because of a lack of renters, not because of a lack of capital, and not because of weak fundamentals, but because of legislative uncertainty. The 21st Century ROAD to Housing Act, now passed