Construction is underway on Legacy at Laveen Village, a build-to-rent residential community in Laveen, Arizona, ultimately providing 172 units consisting of one, two and three-bedroom homes. The project broke ground last month and is expected to be completed in early March 2025.
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The $50+ million project is being developed by Scottsdale Investment Management (SIM), a real estate development and management company in the valley since 1978.
“We are extremely excited to have this project underway and have enjoyed the interaction and appreciate the cooperation of the community,” said Ryan Grant, a partner with SIM.
Built-to-rent homes have become the hottest trend in housing as renters look for a lifestyle that provides for more living space, recreational amenities, and privacy. Phoenix is a leader in built-to-rent construction, with more than 14,000 units completed last year.
“Beyond enjoying the comfort of a home, Legacy at Laveen Village will also provide for a sense of community where there is an opportunity to recreate and interact with your neighbors,” Grant said.
Laveen Village will offer residents a number of amenities, including 2 children’s parks, resort style pool and spa, fully-equipped gym, play and food prep areas, multiple green belts and even a dog park.
The 15-acre residential project is located at 35th Avenue, just south of Southern Avenue and will unfold over five phases, with the first phase projected to be completed in September 2024. All total, there will be 64 one-bedroom, 90 two-bedroom and 18 three-bedroom homes, with a mix of standalone and duplex units.
