ARIZONA NEWS

Developer Greenlight Communities bringing affordable rental complex to Tempe

Oct 7, 2024, 6:00 PM

Affordable rental community in Tempe to bring 229 units...

Greenlight Communities has taken a crucial step forward in creating a new 229-unit affordable rental community in Tempe. (Photo courtesy of Greenlight Communities)

(Photo courtesy of Greenlight Communities)

PHOENIX — Scottsdale-based real estate developer Greenlight Communities announced its plans for a new affordable rental community in Tempe on Monday.

In fact, the company recently closed on the land, which means they purchased the area and the transaction officially closed.

Company leaders expect construction of the Cabana Kyrene community, which is located at 515 W. Guadalupe Road in Tempe, to start in March 2025.

How many units will affordable rental community in Tempe have?

The multi-family community will bring 229 rental housing units at the southwest corner of Guadalupe and Kyrene roads.

The residences will be spread across six three-story buildings. There will be 90 studio apartments, 93 one-bedroom apartments and 46 two-bedroom units. Amenities include a pool, fitness center and workspaces with Wi-Fi.

Greenlight Communities co-founder Patricia Watts said Cabana Kyrene was designed to meet the needs of today’s workforce and families.

“Our vision was to create a community that not only elevates the quality of life for its residents but also keeps rents attainable,” Watts said in a news release last week. “With Cabana Kyrene, we’ve successfully achieved that balance.”

What’s next for Cabana Kyrene?

Greenlight Communities was established seven years ago to bring affordable housing units to Arizona.

Through Cabana Kyrene, it will create Tempe’s first attainable and workforce-focused development in almost 15 years, according to the release.

Company leaders expect the project to be completed by September 2026. They also project leasing to begin once construction is complete, which will take at least another year or so.

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Developer Greenlight Communities bringing affordable rental complex to Tempe