Greenlight Communities, Arizona’s trailblazing developer of attainable rental housing, together with partner Holualoa Companies, is set to break ground on its first Tempe community, Cabana Kyrene.
Cabana Kyrene will introduce 229 new rental homes, comprising 90 studio apartments, 93 one-bedroom units, and 46 two-bedroom units. These residences are thoughtfully designed to provide high-quality, attainably priced housing for Arizona’s workforce.
“Expanding into Tempe is an exciting step for Greenlight Communities as we continue to address Arizona’s housing needs,” said Patricia Watts, Co-Founder of Greenlight Communities. “South Tempe has seen very little new multifamily development in recent years, and we are proud to bring the first attainable housing option to this part of the city.”
Since 2010, only more than a handful of new apartment communities have been developed in South Tempe, all of which are either luxury Class A properties or government-subsidized affordable housing. Cabana Kyrene stands out as the first attainable/workforce apartment community in the area, offering modern, stylish rental options without the luxury price tag.
“Tempe thrives on diversity and opportunity, and housing plays a critical role in ensuring that people who work here can also afford to live here,” said Tempe Mayor Corey Woods. “In recent years, South Tempe has seen little in the way of new, attainably priced rental housing. Greenlight Communities is helping to fill that gap with Cabana Kyrene, providing much-needed housing options for our workforce and giving more people the opportunity to call Tempe home.”
Strategically located, Cabana Kyrene is within three miles of over 60,000 jobs, with major employers such as Kyrene School District 28, Honeywell, Consumer Cellular, Swire Coca-Cola, Charles Schwab, and American Airlines. The site also offers excellent freeway access, sitting just two miles from I-10 and U.S. 60 (Superstition Highway) and about three miles from Loop 101, ensuring convenient commuting options.
Residents of Cabana Kyrene will benefit from proximity to prominent attractions, including Arizona State University, Mesa Community College, Kiwanis Recreation Center, The Farm at South Mountain, Legacy and Raven Golf Clubs, South Mountain Park & Preserve, Tempe Diablo Stadium, and Phoenix Sky Harbor International Airport. The surrounding area is also experiencing new commercial development, further enhancing the neighborhood’s appeal. With a lack of newer-built multifamily competition nearby, Cabana Kyrene offers a unique opportunity for those seeking modern, affordably priced housing in South Tempe.
The March 20 groundbreaking event will bring together local officials, community leaders, and members of the Greenlight Communities and Holualoa Companies teams to celebrate the commencement of construction.
Greenlight Communities believes that everyone deserves to live in a home they can afford in a community that they love. By disrupting the traditional apartment model, Greenlight is able to develop attainable rental housing that meets the needs of today’s budget-conscious renter. Combining modern design with technological advancements in construction and operations, Greenlight’s Cabana and Streamliner apartment brands provide studio, one and two-bedroom units in well-located communities throughout the metro Phoenix and Tucson markets.
Holualoa Companies is a real estate investment firm focused on the successful development, acquisition, repositioning and disposition of real estate assets. Holualoa actively seeks opportunities that improve neighborhoods, create jobs, and enhance communities. The company is a driving force behind a number of award-winning projects. Headquartered in Tucson, Arizona, with offices in Phoenix, Los Angeles, Hawaii and Paris, France, its investments span the United States and Europe and include, multifamily, hotel, office, retail, industrial and self-storage, properties.
