Mosaic

“We have actually seen an increase in the availability of subcontractors in Phoenix, resulting from a slowdown in new project starts in both the for-sale and multifamily segments.” Build-to-rent has been a boon for trades to keep their crews booked. And their increased availability is taking some heat off of developers. “This benefits projects starting today as there’s a broader range of qualified subcontractors to work with in addition to emerging gaps in their pipelines of work, and can result in better costs or schedules.” There’s a lot of positive indicators for BTR development in Phoenix. Next week, Alex Pollack will be covering them all, including:  📈 Where BTR demand is rising in the Valley 🏘️ How developments have changed over the last 5 years 👨👩👦👦 Why BTR homes are critical to filling the area’s housing gap. Catch his panel, Unlocking Potential: The Future of SFR + BTR, at the Bisnow Phoenix BTR, SFR, and MPC conference. If you can’t make it, read our Phoenix BTR analysis cover story with InBusinessPHX. Link in comments.

197 homes and 193,375 square feet of constructed homes later.. We passed our final drywall inspection at Avilla Palomino! We continue to turn over finished units and welcome the first wave of tenants to the community, while the final phases of construction continue on the remaining homes. With multiple stages of construction happening at once, our field crew and trade partners are a well oiled machine working through the final deliveries.

📈 Will land prices change in the next 6 - 12 months? 💰 Which financing options are most attractive in this environment? 👷 What GC fee structures make the most sense for developers today? 🏘️ How competitive is the land market and what cost risk is associated? We have the answers to all of your burning BTR questions. Talk it out at our booth at Information Management Network (IMN) BTR East in Nashville, 3/17 - 3/18. Get in touch with Paul Erhardt, Salman Ahmad, Alex Pollack, or Emily Erickson to learn more.

Based on these numbers by Lance Lambert, we're currently building about 10% of all active homes under construction in BOTH the Phoenix and Austin MSAs.

Foundations poured. Walls up. Roofs on. Just finishing touches left on the first phase of new rental homes in Georgetown’s largest BTR community.

Recent data shows the industry is all in on build-to-rent. Production is up. “In the U.S., a total of 110,727 single-family rentals are under construction in 613 communities. This will expand existing build-to-rent inventory by a robust 53.5% when completed.” (https://lnkd.in/grKWmnRc) Renting by preference is up. “More build-to-rent (BTR) residents consider themselves renters by preference compared to 2023 (36% in 2024 vs. 27%, respectively).” (https://lnkd.in/gD-Ti5Dg) BTR may not be a silver bullet for local housing shortages, but it does provide critical single-family living for many that is not just flexible, but also accessible. In a complex capital environment, we’re pairing with experienced operators to push forward and deliver.

“I get to construct amazing spaces that people live their lives in.” You’ll find few people as passionate about what they do, or construction for that matter, than Cletus Caroland. An industry veteran, he’s seen pretty much everything in his 25 year construction career. If you try to find him on one of our Phoenix jobsites, good luck! Cletus is often busy managing schedules, participating in city and 3rd party inspections, and overseeing quality control to ensure every single home is built to the highest possible standard. Staying busy keeps projects moving and brings housing online. For Cletus, it’s a proud day of work when he has “completed everything i set out to complete.”

Phoenix, like much of the country, needs more homes. Yet, despite a litany of issues, the path to delivery may not be as dark as it seems. For InBusinessPHX's February cover story, Salman Ahmad shared with RaeAnne Marsh the positive indicators we're seeing in the region's build-to-rent landscape: 1. An increase in residential labor availability across the MSA due to slow downs in for-sale and multifamily construction. 2. Land availability and growth orientation of planning and development departments in the West Valley. 3. New solutions coming to the forefront that are easing municipal regulations around inspections and approvals. 4. BTR developments are not subject to 100-year water requirements. 5. Successful mitigation of supply chain issues through early VE discussions with designers, developers, and suppliers. Read the rest of Salman's insights at the link in comments.

In 2024, we.. Developed 4,939,905 sqft of land. Completed 372 homes, including our 1,000th all-time. Started construction on 870 homes, bringing our active unit count to 1,650. Thank you to our trade partners. Thank you to our customers. Thank you to our teams who make it possible to build places people love. 🎥 : Extreme Aerial Productions

Congratulations are in order for Parker Rounds who was promoted to VP of Product! Parker has been bridging construction and technology at Mosaic since he joined in 2019, leading strategic initiatives and solving hard problems that require expertise in both. As VP of Product, Parker is poised to take on some of the toughest challenges ahead of Mosaic in our mission to make places people love widely available. We are incredibly thankful for the effort he puts into his role for our Trade Partners, customers, and our Platform team. Way to go, Parker!