Arizona Real Estate

Horizontal Development: Arizona real estate’s next big thing?

Horizontal Development: Arizona real estate’s next big thing?

Horizontal Development: Arizona real estate’s next big thing?

horizontal development: Arizona real estate's next big thingWith apartments vertically climbing up the skyline of the Valley, it may surprise you to hear that the next big thing in Arizona real estate development is expected to be the spread of horizontal apartment communities. Horizontal apartment complexes literally put traditional apartment developments on their side. Instead of building complexes several stories high, multi-family developers are now designing horizontal apartments that are single story, single family units. Think of a gated community filled with tiny one and two bedroom homes.

Horizontal development a suburban trend

Going horizontal is mostly a suburban trend. In Scottsdale, Tempe and Phoenix apartments are definitely going up. Of the nearly 20-thousand new apartments rising in urban areas, the vast majority stand at least 3 stories high with some hitting the 30-story mark. These high rises attract professional millennials who want to be in the city, near restaurants, work and other urban amenities. They can’t afford a home yet and want to live close to where they work and play.

Older than a millennial, younger than a baby boomer: going horizontal

Horizontal apartments appeal to people who are a little older.  They may not be able to afford a house yet, but they want the amenities home ownership typically offers: more outdoor space, privacy and a sense of living in a community. These Horizontal developments look to fill that gap: offering some of the benefits of owning a home without the higher expenses and long-term responsibilities.  This explains why developers are planning more of these communities well away from the urban centers. New horizontal developments are slated for the suburban areas of the east and west valley, such as Surprise, Queen Creek and Good year.

New horizontal developments in the Valley

The newest horizontal apartment development to open is Christopher Todd Communities in Surprise. Behind the gates stand 136 one and two bedroom, single, detached apartment homes. Unlike some of its horizontal predecessors, each unit, which ranges from 668 to 1,022 square feet has its own, lushly landscaped backyard. The homes feature smart home technology so residents can use keyless entry, light controls and more. This Surprise development is one of 10 Christopher Todd Communities planned in the valley area.

Wait, there’s more…

Developer NexMetro has already constructed 1,500 horizontal apartments in their Avilla Home communities located in the east and west valley, along with several of their communities in Tucson. The interior design features high-end finishes, ten-foot high ceilings and private patios and the marketing message consistently reiterates:  have all the comforts of your own home, without the hassles of home ownership.

Economic conditions bode well for horizontal development

With wages fairly stagnant, while the cost of most everything else, including attaining a higher education, rent and other household goods steadily increasing, homeownership stands to take longer for people to make happen. These conditions favor the horizontal developers who have created a way to capitalize on this delay in first-time homeownership.

At Landmark Title, our commercial team works directly with builders and developers providing personalized title and escrow services. If you have questions about our services or need assistance with a real estate transaction please contact us at (602) 768-2800 or visit our website.

 

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