As we head into the final quarter of 2025, Porter Kyle is excited to bring you the latest insights shaping housing, investment, and development across Phoenix and beyond. In this edition, we cover key market trends—from the national housing shortage and rental rebound highlighted by JPMorgan and John Burns to Phoenix’s ongoing economic momentum fueled by tech giants like Nvidia and TSMC. We also explore how luxury rental communities are attracting high-net-worth residents, reflecting a broader shift in housing preferences as ownership becomes increasingly out of reach.
We’re also thrilled to share an update from the field: The Wayne in Chandler has completed all underground work, started foundation pours, and will begin vertical construction in the coming weeks. Each article in this newsletter offers actionable insights for investors, renters, and industry professionals alike. Don’t miss a beat—sign up to receive Porter Kyle updates directly and stay informed on the projects, trends, and opportunities driving the Valley’s housing and real estate market forward.
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
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
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
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
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