Greenlight Communities aims to provide workforce housing without using government programs.
As developers eye downtown and mid-town Phoenix for future work, density will be a big driver in how these projects get built.
Cost of living affecting teachers, first responders and other middle-class renters
Greenlight Communities is the first developer to focus solely on attainable housing rental product. The developer is addressing the nationwide housing crisis, and already has two projects underway in Scottsdale, Arizona. Greenlight has been working on attainable housing for a decade, and has now created a strategy for ground-up development.
Greenlight Communities is planning four projects in the Phoenix area that will offer monthly rent $300-$500 less than at comparable buildings, according to a press release.
Greenlight Communities is nearing completion on the first of a series of affordable complexes in the Phoenix area, which will open and operate under the Cabana brand.
Scottsdale-based Greenlight Communities LLC is investing $325 million to build apartment communities in a move that company officials say will help address housing affordability in metro Phoenix.