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.
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
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
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,
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’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
$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
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
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