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Another build-to-rent project planned for Peoria

This one is near Happy Valley Road, 107th Avenue

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A new build-to-rent community is planned for Peoria.

City Council unanimously approved a rezone and general plan amendment to pave the way for a gated one-story 82-unit multifamily development on 10 acres near Happy Valley Road and 107th Avenue within the Tierra Del Rio master-planned development.

Applicant Shaine Alleman of Tiffany and Bosco, on behalf of Xanadu Investments, said there has been as many as 14 zoning amendments over the years with this parcel because of the many different market shifts that have occurred.

Alleman said the current project is a lot better than the initial project, moving from commercial to multifamily to single family residential built-to-rent products.

Heights and density decreased while the landscaping buffer increased, he said.

“A lot has happened in and around the city that have required amendments,” he said. “We’ve made several revisions to adjust the conceptual plan in conjunction with feedback from the neighbors and from city staff.”

In 2019, the first build-to-rent project in Peoria opened at the southeast corner of 83rd and Olive avenues. A total of nine projects have been either built, are under construction or in review with the planning and zoning department. One is in Maricopa County near the city, and most are either located on Olive Avenue or in the northern part of the city.

About 1,800 units in Peoria have been built, are under construction or are in review.

The Tierra Del Rio project is planned for 32 one-bedroom units, 34 two-bedroom units and 16 three-bedroom units, averaging just under 8 dwelling units per acre.

All units are single story, with a maximum height of 19 feet.

Amenities are expected top include a pool, BBQ, picnic area, clubhouse and fitness center.

Councilmember Brad Shafer said he’s really proud the community has had significant input.

“The community has shaped this project and I think a lot of the questions and concerns were resolved,” he said. “So I think with the community input, this could be a good project.”

Philip Haldiman can be reached at phaldiman@iniusa.org, or on Twitter @philiphaldiman.

build-to-rent, community, Peoria, Arizona, City Council, rezone, general plan amendment, real estate, apartments, single family, homes, housing

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