Porter Kyle, a Scottsdale-based vertically integrated multifamily builder and developer, broke ground on The Wayne, a roughly $60-million multifamily Build-to-Rent (BTR) project in Chandler, Arizona.
Taylor Shultz, Partner of Porter Kyle, said, “Chandler is one of the region’s premier submarkets and continues to hold strong appeal across multiple demographic sectors. The BTR product type continues to experience record absorption numbers in the Phoenix market. This project is expected to benefit from the high barriers to entry of this exclusive Phoenix submarket, boasting favorable supply and demand imbalance, and strong economic drivers.”
Challenging rezoning standards in the City of Chandler, combined with the fact that 95% of the city’s land is already built out or planned for development, positively positions The Wayne for success. Additional positive market factors include favorable rent growth projections in the coming years, a wide delta between renting versus owning, and limited competition. There’s no like-kind townhome BTR product within nearly 10 miles.
The Wayne is expected to span a 20-month build, with the first units slated to be delivered in Spring of 2026. The infill site is located at 1535 N. Dobson Road, roughly 20 miles southeast of downtown Phoenix. The community will include one-, two- and three-bedroom rental homes featuring two-car direct access garages and private backyards. Amenities will include a resident clubhouse with co-working spaces, private offices, a gym, swimming pool and outdoor kitchen, additional community amenities include a dog park, and a community trail system.
“New construction deliveries will fall more than 60% in 2026 and even further in 2027 across Metro Phoenix. Limited new supply in Chandler and the surrounding Easy Valley submarkets, position The Wayne for great long-term success, said Shultz, who notes demand for housing in the Phoenix market continues to be driven by strong job and population growth. “We currently have three BTR townhome developments totaling roughly $150 million in the entitlement pipeline in Phoenix’s East and Southeast Valleys. We are encouraged by the fact that absorption of BTR product over the past 12 months in the Phoenix market has never been stronger.”
