The National Multifamily Housing Council (NMHC) recently reported that multi-family housing has been one of the fastest-growing segments of the U.S. real estate market.
With new build-to-rent (BTR) developments popping up throughout Arizona, one community – Arcadia View Lofts in Phoenix, which was built by Net Zero Energy real estate developer MODUS Companies – was just named the Grand Winner of the BTR category in the 2024 Multifamily Executive Awards.
The MFE Awards spotlight the industry’s top people, projects, and programs. Out of over 200 nominations, judges select 14 grand and 11 merit winners in 14 categories. New this year is the build-to-rent category, reflecting the growing sector around the nation.
Nationally recognized MODUS Companies focuses on creating innovative communities with award-winning, environmentally-friendly designs. Founder Ed Gorman noted that the Phoenix development is one of the first in the country to be both BTR and Net Zero.
“Arcadia Views is a 16-unit development made up of eight duplexes. Every unit provides energy-saving features like solar panels, rigid foam insulation walls, LED lighting, Energy Star appliances, Nest smart thermostats, and mini-split heating and cooling,” Gorman said.
Prior to adding solar, each home in Arcadia Views earned a Home Energy Rating System score of 45 or less and has met the requirements for the Department of Energy’s Zero Energy Ready Home program.
The community offers a single-family feel with multifamily amenities, including a gated community pool, covered parking, and electric vehicle charging stations. The development includes one—and two-bedroom units with rental prices ranging from $2,500 to $3,500.
The one-bedroom, one-bath floor plan is 705 square feet, and the two-bedroom, two-bath plan is 1,318 square feet. Every unit includes a private yard with a pet door. Each unit also offers views of Camelback Mountain and is finished with modern interiors featuring European-style cabinetry, composite quartz countertops, stainless steel appliances, and ceiling heights up to 22 feet high.
MODUS partnered with Kinella Construction and HercuTech to supply a patented “green” wall-building system to add to the project’s earth-friendly appeal.
“Our company’s goal is to focus on ideal locations and then create leading-edge modern designs along with state-of-the-art technology that help lower utility bills while providing residents with an outstanding quality of life. We feel we have achieved this and more with Arcadia Views,” Gorman said.
For more information on Arcadia Views Lofts and other upcoming projects from MODUS Development, visit moduscompanies.com.
