2000 new rent houses in Phoenix?

3 Replies

Christopher Todd Communities has just announced a partnership with Taylor Morrison to build new rent houses in Arizona. I hear 2000 are planned in 5 year span. What will this do to existing rental stock? We have had twice in my lifetime that volume added on apts for the college campus and the results were pretty bad. I have never seen this with rental housing on SFR.

Thoughts?

This is the new strategy for the big home builders to address the affordable housing crisis. I live in Highland Michigan and a rent only complex just went up near me and sold out quickly.

It will be interesting to watch this strategy unfold.

@Mike Reynolds do you have link to source? I'd be curious to read it

I think it would be a big difference if it were one large planned development vs scattered infill/redevelopment around the metro area. One large development of SFH rentals would certainly have an affect on nearby rentals in the immediate vicinity.

Originally posted by @Ryan Swan :

@Mike Reynolds do you have link to source? I'd be curious to read it

I think it would be a big difference if it were one large planned development vs scattered infill/redevelopment around the metro area. One large development of SFH rentals would certainly have an affect on nearby rentals in the immediate vicinity.

I didnt have a link earlier but found this one. I had heard it from a trusted friend.

https://www.cnbc.com/2019/08/0...

It looks like they will be going into the rental community business. Then looks like there will be a sell off in a few years.