Empire Group started construction on its largest build-to-rent project in Phoenix, Arizona: Village at Bronco Trail.
Tower Capital arranged an $88.5 million construction loan. Construction commenced in August 2023. The general contractor for the project is Lifestyle Homes and the first phase of units is expected to be ready in the first quarter of 2025.
The new development in Phoenix will consist of 354 units and will offer one-, two- and three-bedroom units with floor plans averaging 923 square feet. Amenities will include detached garages, fitness center, car wash station, playground, a dog park, grilling area, resort-style pool, clubhouse, and common area open spaces. Each home will have a private yard. Inside, kitchens will feature quartz countertops, stainless steel appliances and backsplashes. Full-size washers & dryers and upgraded smart-home features take living amenities to the next level.
“TSMC’s $40 billion chip manufacturing campus will directly support thousands of jobs, and ancillary companies aiming to facilitate outsourced requirements of TSMC will compound the economic impact on this submarket,” said Randy Grudzinski, partner at the Empire Group of Companies. “This will be a driving force of housing demand in North Phoenix for decades to come.”
For more than 40 years, the Empire Group has been at the forefront of residential and commercial real estate development, and this didn’t happen by mistake. Rather, it’s the result of a company culture that encourages and rewards not only hard work and dedication to its craft, but also differing perspectives, innovative thinking and collaborative decision-making. Most cutting-edge achievements are accomplished not by people acting alone, but by motivated, talented and complementary groups of individuals, which is what we have assembled at Empire.
The new development is in close to Taiwan Semiconductor’s new mega-plant and will sit on a 30-acre site at 29th Avenue and Sonoran Desert Drive.
