Mosaic, Atlantic Jasper Break Ground on Arizona BTR Project
The two companies began work on a 240-unit development in Prescott Valley, scheduled for completion in 2025.
Mosaic and Atlantic Jasper have broken ground on The Flats at Jasper, a 240-unit built-to-rent project in Prescott Valley, Ariz. The development—representing the first BTR project within the Jasper masterplan community—is scheduled for completion in 2025.
The Flats at Jasper will span more than 26 acres, encompassing one- and two-bedroom single-family homes and duplexes, ranging from 760 to 1,039 square feet, with home office spaces in select units and detached garages. Community amenities are set to include walking trails, a 5,000-square-foot clubhouse, a fitness center, a swimming pool with a hot tub and spa, grilling stations and a dog park.
The project is located on Jasper Parkway, off Santa Fe Loop Road, and is within four miles of several retail and dining options, including Walmart Supercenter and Safeway. Prescott Valley city center is some four miles east of the development.
Jasper is a 1,200-acre clean energy masterplan community to be developed in multiple phases, which is slated to include 40 single-family homes for sale and another 1,000 lots for development. Mandalay Homes and Capstone Homes are the builders of the masterplan community, with Mosaic and Atlantic Jasper only working on the BTR component of the project, the companies confirmed for Multi-Housing News.
Mosaic has been active in the SFR space in 2022. Just last month, they broke ground with Family Development on Town Germann, a 209-unit BTR community in Gilbert, Ariz., where the firm is also providing general contracting services. The development is slated for completion early next year.