Arizona’s attainable housing leader, Greenlight Communities, is proud to close out 2023 with several major milestone, including 4 completed and 6 new attainable rental communities currently under construction across the state, further expansion into Southern Arizona and additional future plans to expand into Peoria and Surprise.
Founded in 2018, Greenlight Communities was the first company in Arizona to focus solely on building privately-funded attainable rental housing. To date, the Scottsdale-based company has invested more than $800 million into building affordable and attainable rental housing communities. Greenlight has developed and completed 10 communities with an additional 9 new communities throughout the state that are in various stages of development. As 2023 comes to a close, Greenlight Communities will also hit another major milestone as construction concludes on its 4,000 unit.
Greenlight has three communities that are currently leasing up, with units ready for immediate move-in. These communities include Cabana Bridges in Tucson, Cabana Southern in Mesa and Cabana Bullard in Goodyear.
In the Phoenix metropolitan area, Greenlight Communities has two Cabana projects currently under construction. These include Cabana North Valley in Phoenix, which is set to begin leasing in October 2024 and Cabana Aldea in Glendale, which is set to begin leasing in November 2024.
Greenlight Communities began its expansion into the Tucson market in 2022 with the Cabana Bridges community, which is now leasing. Greenlight’s second Tucson project, Villa Cielo Cortaro, is currently under construction and will offer Tucson residents an additional 286 units of rental housing with move-in set to begin in April of 2024.
In 2023, Greenlight Communities proudly introduced the first of their new product type, an even more affordable rental housing option, with the groundbreaking of its inaugural Streamliner projects in Phoenix, Streamliner 67th and Streamliner 16th. Anticipated to open in April 2024 and May 2024, respectively, these developments mark an exciting expansion for Greenlight Communities, reaffirming its commitment to providing innovative housing solutions in the Phoenix area.
The Streamliner brand is Greenlight Communities’ most affordable apartment community type to date. With Streamliner rents starting near $1,100 per month, Greenlight Communities offers a non-government-subsidized, private-sector solution to the state’s persistent housing crisis.
Additionally, Streamliner Aldea in Phoenix is under construction with completion set for February 2025. This community will be built alongside an additional Cabana project, Cabana Aldea, which is scheduled to begin leasing in January 2025.
“Reflecting on the past five years fills me with immense pride for the transformative impact our company has achieved in delivering innovative, quality and comfortable workforce rental housing to the marketplace,” expressed Patricia Watts, co-founder of Greenlight Communities. “This journey has been truly remarkable, and we eagerly anticipate further expansion throughout the Phoenix metro area and Tucson.”
Greenlight’s future projects include expansion into Peoria and Surprise. Set to being leasing in March of 2025, The Lanai will be Greenlight’s first Surprise community.
In Peoria, Greenlight will begin leasing at Streamliner 87th in June 2025, which will offer 190 units to include studios, one-and two-bedrooms.
“This success would not have been possible without the investors and lenders that believed in Greenlight’s vision and partnered with us to bring this much-needed housing to Arizona. Our partnership with Holualoa has allowed Greenlight to grow at the rate we have. Holualoa’s commitment, insights, and financial support have been instrumental. Together, we’ve built communities to be proud of, and we look forward to our continued success,” said Rob Lyles, co-founder of Greenlight Communities.
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