Tower Capital Advises on $27 million in Financing for a 187-Unit Single-Family Build-For-Rent Development

PHOENIX, June, 2021 – Tower Capital successfully arranged construction financing for a 187-unit build-for-rent (BFR) community totaling $27,000,000.  The community is located within the 356-acre mixed use district in Avondale, AZ known as The BLVD, within the West Valley of the Phoenix MSA.  The BLVD is comprised of six complementary land use districts.  The initial phases of The BLVD consist of hotel development, the American Sports Center, a transit center, retail uses, and multifamily residential.

Village at the BLVD will be comprised of 187 units on 17.00 acres, with an average unit size of 929 square feet. The BFR community will feature detached garages, a designer workout facility, rec building with community kitchen and gathering area, a resort style pool, spa, barbeque and kitchen area, large green belts, a dog park with washing station and a gated entrance. The units will feature fenced and gated, private patios and backyards with lush landscaping, premium countertops, stainless steel appliances, ten-foot ceilings, walk-in closets, high-speed fiber optic internet service, smart home technology, upgraded kitchen cabinetry and faux wood flooring.  The smart home technology will include a digital thermostat, lighting controls, keyless door entry, doorbell with camera – all controlled from a smart phone or tablet application.