Sunstone Opens Phoenix-Area Workforce Housing

Leasing has begun at the townhouse property in Surprise, Ariz.

The interior of one of the units at Sierra Verde. Image courtesy of Cole Horchler

Sunstone Two Tree has opened a 60-unit workforce housing property in Surprise, Ariz. The firm began construction on the Sierra Verde project in 2022. Final work on the townhouse community is still wrapping up but it is expected to be fully online by the end of the month.

The developer tapped Capital West Homes and CWHD Contracting as the project’s general contractors, while Mark-Taylor Residential will act as the property manager. According to a statement from Mark-Taylor, the lease-up process has just begun but the market has been seeing strong demand for townhouse-style units.

When completed, Sierra Verde will offer two- and three-bedroom units averaging 1,331 square feet. The units include smart home tech, washer and dryer units, kitchen islands and micro-patio entry. The community’s amenities will include a fitness center, clubhouse, pool and playground.

Located at 15240 N. 142nd Ave., the community will have nearby access to Loop 303 and State Highway 60, offering a 20-mile commute to Phoenix. Residents will be less than two miles away from the Surprise Marketplace shopping mall. Sierra Verde is also near the many sports complexes and the White Tank Mountain Regional Park.

Building workforce housing across the U.S.

Sunstone Two Tree invests in workforce multifamily housing and has developed a portfolio of communities throughout several states, including Texas, Florida, Illinois, Nevada and Arizona. In 2020, the firm began developing medium- to high-density single-family homes, both in attached and detached styles, to cater both to millennials looking for their own homes and baby boomer empty nesters looking to downsize.

Besides Sierra Verde, Sunstone Two Tree is also working on a 320-unit build-to-rent community in Glendale, Ariz., alongside Capital Square. That community will have 218 townhomes and 102 detached villas spread across its 29-acre site.

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