Rockefeller Group Breaks Ground on Phoenix BTR Communities
With these properties, the developer will make its Arizona debut in the sector.
Corsica Villas at 20th Street and Corsica Villas at Euclid Avenue and 7th Street in South Phoenix. Image courtesy of Rockefeller Group
New York-based Rockefeller Group has broken ground on its first build-to-rent communities in Arizona, which comprise 152 townhouses and carriage-style units in South Phoenix.
Mosaic will be the general contractor, overseeing all aspects of building, including amenities, land development and vertical construction at the two Corsica Villas communities. Based in Phoenix, Mosaic’s national footprint encompasses more than 1,900 BTR communities under construction in Arizona and Texas, with two additional BTR communities planned in Florida. Last August, Mosaic and NexMetro Communities began construction on Avilla Palomino, a 197-unit BTR development in Glendale, Ariz., that is scheduled for completion this summer.
Phoenix property
The pair of Phoenix BTR communities are expected online in late 2025 or early 2026. Rockefeller Group acquired the two sites, which are about 1.75 miles apart and situated in Phoenix’s Baseline Road corridor. Totaling 16.5 acres, the communities sold for $8.7 million in separate transactions in June 2023. Each two-story residential unit will range in size from 1,126 to 1,525 square feet, with features including pet doors, private backyards and views of South Mountain Regional Park.
Corsica Villas at 20th Street will have 68 units with attached two-car garages in two- and three-bedroom floor plans. Corsica Villas at Euclid Avenue and 7th Street will offer 84 units, including two-bedroom carriage units with attached garages and three-bedroom townhomes.
Community amenities at both developments will include a heated pool, hot tub, playgrounds, dog parks and open spaces. The new light rail at nearby Central Avenue and Baseline Road is scheduled to open prior to the completion of both Corsica Villas communities.
The BTR communities are expected to help meet the increasing demand for rental homes south of Baseline Road that are close to hundreds of thousands of jobs in downtown Phoenix, Chandler and Gilbert, Ariz. The properties will also be near Arizona State University, Interstate 10 and Phoenix Sky Harbor International Airport.
