Capital Development Group Closes on 2 BTR Projects

The Park at Three Point. Credit: HILGARTWILSON/Capital Development Group

By Capital Asset Management

Capital Development Group, the development wing of Capital Asset Management, has closed escrow on the first two of five Build-to-Rent projects. The first two projects are in Arizona cities most in need of this type of housing – Prescott and Casa Grande.

The projects, similar in concept and design, mark Capital Development Group’s broadening of its reach outside of the Phoenix metro area.

Both projects will appear similar to a single-family home community at first look. All units will be built as a single story and designed to include private backyards and entries. Inside, residents will be met with 10-foot ceilings, stainless steel appliances, full-sized washers and dryers, faux wood flooring, quartz countertops and the latest in technology packages. Outside, amenities include a resort-style pool and spa, barbecues and ramadas, a dog park, fitness center, coffee bar, trails and paths throughout, and open spaces and lush landscaping.

Capital Development Group focuses on sustainable building practices, including a partnership with HercuTech for the use of the Hercuwall, an environmentally-friendly foam, concrete and steel wall system.

The Prescott project, The Park at Thumb Butte, is located on the south side of Iron Springs and Williamson Valley roads and is being built to suit 175 attached and detached homes on nearly 28 gross acres of land.

In Casa Grande, The Park at Three Point, located on the historical Three Point airport site at Pinal Avenue and Kortsen Road, will include 225 attached and detached units on 22.3 gross acres. Sellers of the land, Land Partners, are longtime Casa Grande proponents and chose Capital Development Group’s project due to its positive impact on the Casa Grande community.

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