Build-to-rent home community going up in Verrado in Buckeye

Article originally posted on AZ Central on October 4, 2024

Buckeye is a hotspot for homebuilding, and not all of the new houses are for sale.

A new single-family, build-to-rent community is going up called Marketside Villas at Verrado.

The community near McDowell Road and 211th Avenue will have 150 homes.

Rents for the one-, two- and three-bedroom stand-alone homes will range from $1,800 and $2,400 per month.

Everest Holdings CEO Joe Blackbourn said it decided to develop the homes in Buckeye because it’s a growing area. The West Valley is dominating metro Phoenix’s homebuilding market.

“These homes are for the segment of the renting population that want outdoor space while still enjoying the luxuries of being part of a managed property,” he said.

Everest is developing the community with P.B. Bell.

The new rental homes come with stainless steel appliances, direct garage access on some units, smart door locks and pet-friendly amenities.

Metro Phoenix is a top U.S. city for build-to-rent single-family homes and was one of the first cities to see the developments.

More build-to-rent houses are under construction in the Phoenix area than anywhere else in the U.S., and more have been built.

More than 8,000 build-to-rent houses are under construction in the Phoenix area, according to the commercial real estate firm Northmarq.

The Valley now has more than 17,000 single-family rentals in more than 100 developments.

 Marketside Villas will have a 24-hour fitness center, a resort-style pool and a pet park.

“We look forward to continuing to identify areas across the Phoenix metropolitan area for build-to-rent communities,” said P.B. Bell CEO Chapin Bell. “We anticipate that this product type will grow due to its perks.”