By BEX Staff for AZBEX
The Maricopa Planning and Zoning Commission discussed two proposed Build-to-Rent projects in the city as part of its Aug. 28 meeting. Taken together, the two projects would deliver slightly more than 450 new rental units to the local residential inventory if built as proposed.
EVR @ San Travasa
El Dorado Holdings, Inc. has proposed EVR @ San Travasa, a 186-unit Build-to-Rent cottage project on 20 acres at the SEC of Iron Point and White and Parker roads. The site is part of a 388-acre planned area development approved in 2014 that is part of an ownership partnership with the Ak-Chin Indian Community and Central Arizona College. El Dorado wholly owns the 20-acre proposed section.
Multiple dwelling development is approved by right under the existing zoning, but the developer has requested a site plan approval. According to the submitted narrative, “The proposed EVR @ San Travasa project is a combination of 186 individual and duplex single-story units in one, two, and three-bedroom configurations that range from approximately 800 square feet to 1,500 square feet. Differing from traditional multi-family projects that are typically large two- and three-story structures, this neighborhood will have a much more single-family residential look and feel due to the single-story design.”
Planned amenities include distributed green spaces throughout the development, a 3.2KSF clubhouse with a fitness center, a lounge/game room and kitchen, a community pool, water features, shade structures, recreation/game areas, and outdoor dining/barbecue space.
El Dorado Holdings, Inc. is the developer. The design firm is Tomecak Design. F2 Group is the landscape architect, and HILGARTWILSON is the engineering firm. The project is represented by iPlan Consulting.
Lincoln Capital Gunsmoke
The other proposal discussed is for the planned Gunsmoke community by Lincoln Avenue Capital. Lincoln is currently under contract to purchase approximately 25 acres at the SWC of Gunsmoke and Honeycutt roads and is planning to build 271 BTR homes.
According to the project narrative, “The proposed Gunsmoke Multifamily development will include 271 residential units developed in an attached and detached build-to-rent (“BTR”) format with a robust amenity package. The buildings will be styled as single and two-story walk-ups and will largely parallel new market-rate BTR product. The residential units will be a mix of 2 and 3-bedroom units ranging in area from approximately 900 square feet to 1,215 square feet. Amenities will include private fenced backyards, covered parking, clubhouse & leasing center, fitness center, yoga room, pool, and active open spaces throughout the community. Lincoln is also planning to incorporate solar panels to increase the long-term efficiency and sustainability of the community.”
Lincoln plans to build the development using Low Income Housing Tax Credits. To meet LIHTC requirements, all units will be income-restricted to levels at or less than 60% of the Area Median Income for at least 15 years to ensure the units remain accessible by the area workforce community.
Lincoln Avenue Capital is the owner. Felten Group is the design firm. Bowman is the civil engineer, with traffic planning by Lokahi. The general contractor is BeckShar Development.
