Greenlight plans to use industry research, modern design and technological advancements in construction and operations to make its apartments attainable.
Patricia Watts, Rob Lyles and Dan Richards are no strangers to building. The trio built Deco Communities and Starpointe Communities. Now, they have launched a new venture, Greenlight Communities, to address Arizona’s growing affordability problem by building attainable rental housing.
Its new Cabana apartment brand will provide studio, one and two-bedroom units in well-located communities throughout Phoenix, Mesa, Tempe, Goodyear, Scottsdale and Chandler. Greenlight says The Cabana locations will be able to offer monthly rents $300-$500 per unit less than the luxury apartment projects that have been built throughout the Valley.
Greenlight plans to use industry research, modern design and technological advancements in construction and operations to make its apartments attainable.
“On the technology side Greenlight uses a tech-company inspired building processes to speed up our construction timeline, and maximize efficiencies among trade contractors,” Watts says. “We’ve implemented technology in every aspect of operations to enable paper-free leasing, 24/7 model and leasing access, and app-based resident communications.
The company also aims to shave costs by rethinking amenities. “In our communities we’ve adopted the ‘only what you need, nothing you don’t’ philosophy in designing our Cabana projects,” Watts says. “By eliminating expensive, and often under-utilized, common areas and amenities, and focusing only on those that deliver a true value component to our residents, we have reduced overall construction costs, and ongoing repairs and maintenance.”
With more than $150 million in capital raised, Greenlight is currently under construction on four projects in the Phoenix metro area and has several more sites in escrow and under development. The company says no taxpayer dollars or government programs are involved in its funding.