Mark-Taylor Residential has opened Ironwood Homes at River Run, a 103-unit, build-to-rent community in Avondale, Ariz. Sunstone Two Tree, a new firm that resulted from the merger between Sunstone Properties Trust and Two Tree Capital, developed the Phoenix area property.
Ironwood Homes at River Run comprises detached two-story homes encompassing three- and four-bedroom floorplans ranging from 1,647 to 1,800 square feet. Homes feature 9-foot ceilings, walk-in closets, in-unit washers and dryers, energy-efficient heaters, smart technology packages, side yards and attached two-car garages. Community amenities include a swimming pool, spa fitness center, clubhouse and a playground.
Located at 11951 W. Windsor Ave., the property is close to Interstate 10 and roughly 17 miles west of Phoenix. Ironwood Homes at River Run is also close to the Gateway Pavilions shopping mall, as well as Friendship Park.
In the first half this year, Phoenix ranked first for multifamily deliveries, with 8,062 units across 36 properties coming online, a recent Yardi Matrix ranking shows, accounting for 2.8 percent of total stock. Phoenix is the only metro in which more units were delivered during the first six months of 2023 than in the same period of 2022, the same source shows. Roughly 97 percent of these deliveries catered to the Lifestyle segment.
