Scottsdale, Arizona-based multifamily builder and developer Porter Kyle has broken ground on its second build-to-rent project in Chandler, Arizona, and its eighth overall. The Wayne, a 100-unit townhome property, is expected to cost roughly $60 million, according to a news release shared with Multifamily Dive.
The Wayne, located 20 miles southeast of downtown Phoenix, is expected to take 20 months to build, with the first units set to deliver in spring 2026. It will be one of the only BTR townhome developments in Chandler, which has challenging rezoning standards and very little land left for building, according to the release.
The Chandler submarket holds a strong appeal for renters across multiple demographics, according to Taylor Shultz, partner at Porter Kyle.
“The BTR product type continues to experience record absorption numbers in the Phoenix market,” Shultz said in the release. “This project is expected to benefit from the high barriers to entry of this exclusive Phoenix submarket, boasting favorable supply and demand imbalance, and strong economic drivers.”
In the release, the developer called out favorable rent growth projections in the next few years, a wide gulf between renting and owning in the area and limited competition. The nearest comparable development is nearly 10 miles away, according to the release.
The property will include one- to three-bedroom rental homes with two-car direct access garages and private backyards. Amenities will include a clubhouse with coworking spaces, private offices, a gym, a swimming pool, an outdoor kitchen, a community trail system and a dog park.
Porter Kyle currently has three BTR developments in the entitlement pipeline in the Phoenix area, totaling $150 million in future development.
“New construction deliveries will fall more than 60% in 2026 and even further in 2027 across Metro Phoenix,” Shultz said. “Limited new supply in Chandler and the surrounding East Valley submarkets position The Wayne for great long-term success.”
