Scottsdale firm to build 1,200 single-family rental units in West ValleySeptember 16, 2020 News
By: Angela Gonzales (article originally published in Phoenix Business Journal)
Scottsdale-based Virtua Partners is planning to build 1,200 single-family rental units in the West Valley — to the tune of $300 million.
The entitlement process is in the works on several projects in the West Valley, said Jeremy Hall, chief development officer for the private equity group.
Hall said he’s building a variety of models, with communities ranging from 110 units to 250 units. Some are detached, some are duplex models and some are attached in groups of four or five units. Units will range from 750 to 1,500 square feet with monthly rental rates ranging from $1,500 to $2,500.
Each of these communities will be built on Virtua Partners-owned land ranging from 10 to 15 acres.
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