Atlanta-based Trilogy Investment Company, a leading national developer and provider of build-to-rent (BTR) communities, and Pinnacle Partners, an early mover and leader in Opportunity Zone (OZ) real estate investing, have broken ground on Rêve at Avondale Station, an Arizona BTR Community. This community will feature 107 new build-to-rent homes in a Qualified Opportunity Zone in Avondale, Arizona. This project serves as Trilogy’s third project in the Avondale area and fifth in the state of Arizona.
“We are so deeply excited to be celebrating this day; we have been operating in Arizona for more than 3 years—the up-and-coming area demonstrates our commitment to Arizona and is a testament to the lack of rental communities needed for the strong resident base in the region,” Trilogy Investment Company CEO and Partner Jason Joseph said. “We are excited to expand our footprint in the area and finally bring these projects to life in this dynamic and exciting county.”
The new Avondale development will be situated on a 15-acre site, Avondale, Arizona, located in Maricopa County, is a vibrant and rapidly growing city within the Greater Phoenix area. Its strategic position just minutes away from downtown Phoenix makes it an attractive location for development. The area boasts a diverse economy, a growing population, and a favorable business climate, making it an ideal spot for Trilogy Investment Co. to construct a build-to-rent community. Overall, building a quality, purposeful community in Avondale aligns with the city’s growth trajectory, addresses housing needs, and contributes to the economic and social development of the area.
“We’re thrilled to partner with Trilogy Investment Co. on this Avondale project,” said Leo Baker, Managing Partner of Pinnacle Partners. “This Avondale project will serve as an anchor in our partnership with Trilogy Investment Co. for many years to come, and we look forward to building a one-of-a-kind community in Avondale.”
Avondale will feature a mix of two- and three-bedroom homes for individuals and families. The homes will utilize smart technologies, with a third of the project’s energy coming from solar panels. There will be an array of amenities, including a community clubhouse, pool and dog park.
Despite the headwinds of 2023, Trilogy Investments Co. experienced significant growth with 10 communities in 2023 under lot development, vertical construction and/or placed into operations comprising 1,000+ units of single-family rental homes. The 2024 horizon looks even stronger and will bring additional growth to the Trilogy platform.
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