Empire Group Begins Leasing at 2 Arizona Communities
The properties are located in the municipalities of Tolleson and Queen Creek.
Empire Group secured $72.9 million in financing for Village at Golden Triangle, a project near Fort Worth, last year. Image courtesy of Tower Capital
Empire Group of Cos. has begun leasing at two of its latest single-family build-to-rent communities in Arizona, Village at Paseo de Luces in Tolleson and Village at Schnepf Farms in Queen Creek. Construction on both properties began in December 2021.
The 272-unit Village at Paseo de Luces offers one-, two- and three-bedroom units with floorplans ranging from 680 to 1,282 square feet. Located at the northeast corner of 99th Avenue and Van Buren Street, the community is a half-mile south of Interstate 10, which connects to the area’s major freeways.
Further east, Village at Schnepf Farms offers 144 units in one-, two- and three-bedroom floorplans that also range between 680 to 1,282 square feet. Located at the northwest corner of Rittenhouse and Cloud Roads, the community is adjacent to the Schnepf Farms “agri-tainment” establishment and the gateway to the growing San Tan Valley.
Amenities at both communities include a clubhouse, fitness center, pool with spa, barbecue area, ramada, car wash station, playground and a dog park with a washing station.
Building a strong BTR portfolio
Empire Group’s portfolio of single-family BTR communities totals more than 5,000 units, including units in pre-development and development. In October, the firm landed $72.9 million in construction financing for The Village at Golden Triangle, its 317-unit single-family BTR project in Fort Worth, Texas. Earlier last year, Empire Group also secured a $88.5 million construction loan for its built-to-rent project in Phoenix.
Besides its BTR projects, Empire Group also undertakes luxury, urban infill and Class A mixed-use projects throughout the Phoenix metro through its Aspirant Development division. In mid-2023, the development arm revealed the plans for Astra, a $575 million project that is due to be the tallest tower in Arizona.
