Mosaic and NexMetro Communities have broken ground on Avilla Palomino, a $63 million, 197-unit single-family rental home community in Glendale, Ariz., expected to deliver next summer. It is Mosaic’s third project to break ground in the last 18 months and the 24th project for NexMetro in the Phoenix area.
The cottage-style SFR community will be located at 5023 W. Peoria Ave. and help alleviate the shortage of high-end rental home options for families and individuals in the rapidly growing Phoenix metro. The community will have one-, two- and three-bedroom options in duplexes and single-family detached homes ranging in size from 690 to 1,265 square feet. The properties will have private backyards and front patios. Amenities at the 18-acre site will include a resort-style pool and spa, shaded pavilion, outdoor barbecues, open space areas and a dog park with dog wash station and pet fountains.
Growing SFR Portfolios
Jared Geisler, managing director for NexMetro’s Arizona division, said in a prepared statement it is the first community the Phoenix-based company has built in Glendale. An industry leader and pioneer in the build-to-rent sector, NexMetro has partnered with numerous affiliated companies to complete or begin development of more than 50 Avilla Homes neighborhoods in key Sun Belt locations including Phoenix; Dallas; Denver; Atlanta; Tampa, Fla.; and Austin, Texas. NexMetro and Mosaic, a Phoenix-based residential general contractor, plan to continue their collaboration with additional BTR communities in Texas and Arizona. Mosaic is slated to break ground on a 224-unit BTR community in Austin for NexMetro this month, according to the Phoenix Business Journal.
Mosaic, also a BTR industry leader, is currently building more than 450 units in the Phoenix metro. The Mosaic team’s combined experience spans more than 20,000 BTR units across 100 communities. In addition to Arizona and Texas, the firm operates in multiple states including Colorado, Idaho, California and Florida.
In December 2022, Mosaic partnered with Atlantic Jasper and broke ground on The Flats at Jasper, a 240-unit BTR project in Prescott Valley, Ariz. The development was the first BTR project within the Jasper master-planned community and will span more than 26 acres at completion in 2025.
A month earlier, Mosaic and partner Family Development began construction on Town Germann, a 209-unit BTR community in Gilbert, Ariz. The first units were completed in March and Family Development started preleasing in the spring.
