Scottsdale-based Greenlight Communities, the country’s first company to innovatively focus solely on building “attainable” housing to fill the void between affordable and luxury apartments, has set its sights on Mesa for its latest Cabana-branded apartment community.
Greenlight Communities is pleased to announce they have broken ground on Cabana on Power and construction of the rental community will begin soon. The project is located at 6151 S Power Road in Mesa. The land was acquired last October and construction is set for completion in the summer of 2021. This Cabana community will provide 244 units in total, including 102 studio, 96 one-bedroom, and 46 two-bedroom apartments. The above average percentage of studio units contributes to the excellent value realized by Cabana tenants. Cabana provides brand new living spaces with modern designs and desired amenities – all with attainable rents.
Cabana on Power is well-located in close proximity to ASU Polytechnic campus, Phoenix-Mesa Gateway Airport, San Tan Village, and numerous dining and entertainment opportunities. The community also has convenient freeway access and is surrounded by key employers like Apple, Boeing, Bridgestone, FUJIFILM, Mitsubishi, and Infineon. Greenlight looks forward to Cabana on Power providing working professionals an affordable housing option.
Cabana on Power is a joint venture between Greenlight Communities, Holualoa Companies and Isaac Eteminan.
“At Greenlight Communities we have remained steadfast in our pursuit to build over $300 million of attainable housing apartments in the Phoenix metro area. Mesa will be our fourth community to be completed in the Valley and we are excited to be providing residents in the Southeast Valley the same affordable options that we are now currently leasing in Phoenix,” said Patricia Watts, principal of Greenlight Communities.
Nationally, the Phoenix metro area experienced the largest increase in rental prices in 2019 and apartment rents have risen 40 percent across the region since 2014. The need for newly-built housing alternatives in the Valley is undeniable, as the vast majority of new rentals are luxury orientated and come with correspondingly lofty rents, making them unattainable to the majority of middle-income renters.
Greenlight Communities identified this need years ago and set out to be part of the solution, offering an innovative private sector option to the Valley’s housing and economic challenges. Greenlight is building brand-new, contemporary apartment communities with rents that are manageable for middle-income renters.
“We are extremely proud to offer Valley residents rental housing through communities that are not only affordable, but new, modern and thoughtfully designed,” said Dan Richards, principal at Greenlight Communities. “Our success is found in thinking outside the box. We have created an innovative construction, design and operations business model that is simply unlike what anyone else is doing right now.”
Greenlight Communities says their business model eliminates many of the cost and time constraints other building projects and apartment communities around the country inevitably experience.
“We have removed the middleman and streamlined the design and building process. For each new community, we use our own in-house construction and administration staff, as well as the same Cabana design, with exactly the same blueprint for every project. In short, our process prevents delays and unnecessary cost and allows us to pass that savings on to our renters”, said Richards.