Mill Creek Residential has launched construction of its Amavi Aster Ridge project, a single-family, build-to-rent community in North Phoenix. The site will be situated next to the existing Anthem community.
Amavi Aster Ridge represents Mill Creek’s initial foray into the single-family build-to-rent market in Phoenix. The company formally expanded into the Arizona market last year, and recently broke ground on a pair of Kierland-area multifamily developments.
Located at 4288 W Denali Lane, Amavi Aster Ridge will feature a blend of 177 two- and three-bedroom townhouses. Initial move-ins are slated for February of next year.
A gated community, Amavi Aster Ridge will offer residents fenced private backyards and front-loaded garages. Features will include wood plank-style flooring, nine-foot ceilings, controlled guest access technology, smart thermostats and ceiling fans. The community’s two-bedroom residences will extend in size from 1,200 to 1,400 square feet. The 25 three-bedroom townhouses will measure about 1,500 square feet each. The property will also feature an onsite park with a playground.
The new community will be located 15 minutes from the Taiwan Semiconductor campus. This $40-billion facility will anchor the burgeoning job base in the area surrounding Anthem and Deer Valley. Proximity to Interstate 17 and Anthem Way will allow residents access to area attractions, including lakes, nature preserves and several nearby parks. Four months ago, Mill Creek Residential launched $1.2 billion in funds, some focused on SFR opportunities.
