NexMetro Communities Continues Massive Valley Expansion.
Valley's Leading Single Family Rental Developer Opening Three Communities Representing $70 Million+ in New Capital Investment
Aug 27, 2018by Jackie Wright - Rainmaker Marketing & PR
Avilla Lehi Crossing
Avilla Centerra Crossings
PHOENIX (Aug. 27, 2018) - NexMetro Communities is opening three new Avilla communities in the Valley to meet the explosive demand for the company's innovative luxury leased home lifestyle option. The new communities in Mesa, Goodyear and southwest Phoenix continue the company's strategic growth into key submarkets that show strong consumer appeal for a new home experience with the freedom of a lease.
The new openings bring the company's total new communities built in the Valley to nine, with an additional x under development in Phoenix metro and another x open or underway outside of Arizona. With a low cost of living, and Valley job and population growth outpacing the national average by a large margin, NexMetro's single family rental hybrid is more popular than ever, said company President and COO Josh Hartmann.
"There is a significant demand from consumers for a higher-quality leased-living experience that's different than the big box, shared-wall lifestyle a typical apartment provides," said Hartmann, adding that the popularity of Avilla communities spans across multiple demographic groups. He said the three new communities are ideally located in high-demand growth submarkets. "These in-demand locations are ideal for consumers seeking a high-quality rental home lifestyle with easy freeway access with close proximity to major employers, dining, retail and recreation."
The three new Avilla communities - Avilla Lehi Crossing in Mesa, Avilla Centerra Crossings in Goodyear and Avilla Camelback Ranch in West Phoenix - will all open in September, and represent 428 additional homes to the nearly 1,000 units NexMetro has built in the Valley alone. Earlier this year, NexMetro sold three communities for $98 million, marking record-setting cost per door multifamily milestones in multiple submarkets.
NexMetro's record sales and continued expansion reflect how consumers are becoming more discerning in choosing housing options that work for their lifestyle, seeking out luxury leased options as an alterantive to a traditional single-family home ownership or apartment-style living, Hartmann said.
The three new communities - the seventh, eighth and ninth in the Valley - represent alone more than $70 million in capital investment by NexMetro. Pre-sales are now underway prior to grand openings in September with fully-furnished models at all three communities: Avilla Lehi Crossing, located off the southwest corner of Thomas and Val Vista in Mesa; Avilla Centerra Crossings on the southeast corner of Van Buren and Estrella Parkway in Goodyear; and Avila Camelback Ranch on the southeast side of Camelback Road and 103rd Ave. in southwest Phoenix.
Avilla features modern and stylish 1-, 2- and 3-bedroom single-level rental homes with 10-foot ceilings, open floor plans, private backyards, and no shared walls on all 2- and 3-bedroom plans. Homes feature high-end finishes, including quartz countertops, stainless steel appliances, full-size washer and dryer sets and even a charging station for electric vehicles. Residents will enjoy access to a resort-style pool and spa, covered ramada, walking paths and optional garages all within the pet-friendly neighborhood maintained by a professional management company, without mortgage payments or HOA fees. Prior to the fully-furnished model homes opening to the public, pre-grand opening rental pricing is being offered with the opportunity to tour by appointment only. More details, including floorplans are available by visiting Avilla Homes at avillahomes.com or calling (480) 306-8411.
Across its portfolio, NexMetro has sold, completed, or has under construction more than 2,200 units, with invested capital of nearly $350 million throughout submarkets of Dallas, Denver and Phoenix. In addition, the company has more than 925 units currently under development in these markets. NexMetro has been named as one of the Valley's top five multifamily builders, with a closing volume ranking in the top 10 homebuilders in the Valley.
About Avilla Homes
A truly unique alternative to the typical rental experience, Avilla Homes neighborhoods feature single level, detached homes for lease in a gated enclave. The one, two and three-bedroom floor plans feature private entrances, outdoor patios and backyards, along with high-end finishes such as 10' ceilings, granite/quartz countertops, stainless steel appliances and more. The pet friendly communities offer the perks of neighborhood living with optional garages, resort-style pool, beautifully landscaped recreation areas, and even an electric car charging station - all maintained by a professional management company, without mortgage payments or HOA fees.
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NexMetro Communities is an innovative development company focused on building luxury leased home neighborhoods that serve lifestyle conscious consumers seeking a new home experience without the burdens of a mortgage. In partnership with its affiliated companies, NexMetro has developed Avilla Homes neighborhoods since 2010 in key Sunbelt locations. Combining elements of residential single-family living with rental terms and management, NexMetro provides a growing market niche of consumers a leased home experience like no other.
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