Construction is set to begin on a second multifamily development catering to individuals and families looking for quality housing at attractive monthly rents in Goodyear.
Scottsdale-based Greenlight Communities will start construction this month on a new development under its Cabana brand on a 10-acre property at Bullard Avenue and Van Buren Street in Goodyear, with 336 new units planned for the site. The project, which will be called Cabana Bullard, is the largest new-build project to date for the company.
Greenlight Communities also broke ground in late 2020 on Cabana Encanto, located at 2323 N. 150th Drive in Goodyear. The 8.8-acre parcel was acquired in June 2020 and construction is set for completion in the winter of 2021.
Cabana Bullard is located in an emerging area of the community with quick and easy access to Interstate 10 for commuters. The property is a short distance away from restaurant and retail amenities. Both properties offer attainable housing in very close proximity to top Goodyear employers, such as Microsoft, Amazon, Chewy and Cancer Treatments Centers of America.
Cabana communities provide brand-new living spaces with modern designs and desired amenities – all at attractive rental prices. Cabana Bullard will offer studio, one and two bedrooms options. Cabana properties features many inviting amenities, including contemporary appliances and kitchen finishes, luxury vinyl tile, a co-working lounge and state-of-the-art fitness center all accessed via smart home technology.
“We are excited to begin construction on Cabana Bullard and to bring this project to life for Goodyear residents,” said Patricia Watts, principal of Greenlight Communities. “This will be our largest new-build project to date and is a tremendous opportunity for individuals and families to enjoy a comfortable, secure and high-quality living environment.”
Greenlight’s Cabana Bullard is a joint venture between Greenlight and American Realty Advisors.
Greenlight is currently in the process of building more than 3,000 new Cabana units in the Phoenix metro area and beyond. The Goodyear projects are the sixth and seventh new-build Cabana projects to date, and will make use of Greenlight’s innovative approach and industry-changing designs to create communities with reasonable rent rates.
“We continue to see considerable momentum in the marketplace for the kind of quality, attainable housing the Cabana communities provide,” said Dan Richards, principal at Greenlight Communities. “Goodyear is an ideal market for the Cabana properties and we’re confident that Cabana Bullard will be a positive addition to the local multifamily market.”
Greenlight Communities is working to fill a critical need in the multifamily housing market. The Phoenix metro area experienced the largest increase in rental prices of any market in the country in 2019, and since 2014, apartment rents have risen by an average of 40 percent. The vast majority of newly built multifamily projects are luxury-oriented with higher rents, making them unaffordable for middle-income renters.
Greenlight Communities’ business model eliminates many of the cost and time constraints other building projects and apartment communities around the country inevitably experience and uses innovative design and economies of scale to create a quality living experience at attainable rental rates.
Greenlight Communities has projects under construction and in the development pipeline in additional cities as well, including Glendale and Mesa.
