Constructed in partnership with Mosaic, the property will open to residents this spring.

By: Multi-Housing News 

Family Development has completed the first units of a build-to-rent community in Gilbert, Ariz. Preleasing has begun at the 209-unit luxury townhouse project, Town Germann, which will open to residents this spring.

The property, which is being developed in partnership with Mosaic, a national BTR general contractor, broke ground in 2022 with a construction loan of $41.7 million.

“As the Phoenix metro area continues to be a hub of job creation, the resulting influx of families and higher-income tenants to the area has increased demand for mid- to upper-level rental housing,” Ron Gonski, SVP of Growth at Mosaic told MHN. “These groups are prioritizing single-family living in their desired locations, even if it means renting. Yet over the past decades, these product types—including luxury townhomes, cottages, single-family detached homes and duplexes—have been massively underdeveloped. Build-to-rent communities are delivering high-quality, flexible living in premium locations. Town Germann exemplifies what’s possible for a new generation of discerning renters.”

Upon final completion, Town Germann will feature two- and three-bedroom homes ranging from 1,192 to 1,379 square feet.

Units will feature open floor plans, laundry rooms, a powder room and attached two-car garages. Community amenities will include a pool, spa and fitness center,, as well as several parks, grilling stations and walking trails.