Standing alongside Phoenix Mayor Kate Gallego (D) and National Hall of Fame Teacher (2022) and Arizona Teacher of the Year (2019) Kareem Neal, the country’s first innovative company to focus solely on building truly attainable housing, Valley-based Greenlight Communities broke ground on Streamliner 67th — its most streamlined, attainable and affordable apartment community to date. Streamliner 67th will be a joint-venture with Stockbridge, a private equity real estate investment management firm.
With Streamliner’s rents averaging $1,250 per month, Greenlight Communities offers a non-government-subsidized, private sector solution to the state’s growing housing crisis. True workforce housing that teachers, healthcare workers and those making an annual salary of around $40,000 a year can afford and be proud to called home.
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“Government alone can’t solve our current housing crisis,” says Greenlight Communities Co-Founder Patricia Watts. “Those of us in the private sector need to step up and that is exactly what Greenlight has been doing for the last five years. We have been trying to address the state’s rental housing crisis by building one attainable community after another.”
Since breaking ground on its first Cabana community in 2017, Greenlight has made attainable housing a reality for thousands of workers. The company is now up to one billion in projects with 20 communities in the Valley currently in various development stages. Greenlight’s Streamliner communities takes its mission even further. By streamlining the design and the building process, and eliminating the waste, the company has significantly reduced its building and construction costs. Greenlight also owns and operates an in-house general contracting and civil engineering division, all key factors that help them to deliver a superior product faster and more affordable to their renters.
“What Greenlight Communities has been able to accomplish in just five years is not only commendable, but it’s a real solution that can help address this housing crisis that is plaguing our communities,” says Phoenix Mayor Kate Gallego. “We need more companies committed to building housing for all of our residents, and especially for our teachers, health care workers, military and first responders.”
Greenlight found the vast majority of new multi family home construction targets the top income brackets, and a small percentage addresses government subsidized lower income housing. Very few projects are built to accommodate middle class households. By focusing on the missing middle, Greenlight is filling the void between subsidized and luxury apartments.
“There is nothing more discouraging than trying to find a nice apartment that you can actually afford and one that makes you feel safe and proud to call home,” says Kareem Neal, special ed high school teacher. “It’s nice to see a company that finally puts work force housing at the top of the list and doesn’t cater to the small percentage who can actually afford a luxury apartment.”
Greenlight has several more Streamliner communities planned including Streamliner at 16th Street and Polk, Streamliner Aldea at NWC 99th and Montebello and future communities in metro Phoenix.
When completed, Streamliner 67th at 67th Avenue and McDowell will provide 292-units in total, including studios, one-bedroom and two-bedroom apartments. Streamliner 67th is expected to be completed by March 2024, bringing one of the most modern and attainable housing communities to the West Valley, an area that continues to explode with growth and opportunities and that will be served by the next phase of light rail.
