Trilogy Investment JV to Develop Phoenix BTR Project
Completion is expected in the fourth quarter of 2024.
Trilogy Investment Co. and Cimbra Partners have partnered for the development on Encanto Villas, an 84-unit built-to-rent project in Avondale, Ariz., a suburb of Phoenix. Completion is expected in the fourth quarter of 2024.
Trilogy Managing Partner & CEO Jason Joseph stated, in prepared remarks, that this project is one of three communities to be delivered by the firm in Avondale. Encanto Villas will encompass three-bedroom townhomes which are designed to feature private garages, 9-foot ceilings, granite countertops and stainless-steel appliances. Amenities are slated to include a dog park, a swimming pool, grilling stations and a clubhouse.
Located on a 7-acre site at the intersection of North Avondale Boulevard and Encanto Boulevard, the development is some 15 miles west of downtown Phoenix, directly across from West Point High School. Various shopping and dining options are less than 3 miles away, at Gateway Pavilions.
César Rodríguez, managing partner for Cimbra, mentioned in prepared remarks that Phoenix’s shifting demographics have facilitated growth in the metro’s BTR sector. A 153-unit BTR project is set to break ground some 6 miles from the site of Encanto Villas, as the developers have recently received $30 million in construction financing.