By Tasha Anderson for AZBEX
Porter Kyle, a Scottsdale-based multifamily builder and developer specializing in horizontal, build to rent space, is quickly adding new luxury townhomes across the Valley, with more than 250 units in different stages of construction and entitlement and the recent sale of their 18-unit Monarch Luxury Townhomes.
Located at 2335 E. Utopia Road in North Phoenix, The Monarch Luxury Townhomes were sold for $6.5M or $361.1K per unit to 701 Investments, LLC. Ryan Ash and Mike Woodrick with Newmark Knight Frank brokered the deal between the buyer and Porter Kyle.
Porter Kyle’s two-story townhome designs attract higher end renters with quality finishes, two car direct access garages, private backyards and balconies. Moving forward, most of their projects, including The Prescott at Park West and The Carson Luxury Townhomes, will be fully amenitized with a dedicated leasing center offering a co-working space, indoor and outdoor fitness centers, resort-style pools, outdoor kitchens, dog parks and playground areas.
The Prescott at Park West is planned to include 95 townhome units located on 5.4 acres at 8128 N. 99th Avenue in Peoria. (AZBEX, October 20, 2020) The residences will be a mix of one-, two- and three-bedroom units clustered into five-unit, four-unit and three-unit buildings. Porter Kyle is the developer, architect and general contractor for this project and intends to break ground in February 2021. Construction is expected to last approximately 18 months.
The Carson Luxury Townhomes will have 40 units located at the SWC of Gilbert Road and Civic Center Drive in Gilbert. The units will range in size from 747 to 1,380 square feet and will be clustered in to four- and five-unit buildings. Porter Kyle is the developer and general contractor for this project, while BMA Architecture is the design firm. Construction is planned to start in January 2021 and take approximately 12 months.
Porter Kyle is entitling another site in Chandler and expects to break ground in July. They also have a second phase to the Monarch called the Viceroy, a 21-unit townhome development that is currently under construction and is expected to be completed this summer. With these and more projects in their pipeline, Porter Kyle is actively looking for more well-located sites, ranging in size from five to 10 acres, in which to add more luxury housing.