Wednesday, October 26, 2022 / by Juan Grimaldo
California build-to-rent developer taps Phoenix contractor for East Valley Project
California-based Family Development and Phoenix-based Mosaic have teamed up to develop a $69 million build-to-rent community in Gilbert.
Called Town Germann, the 209 luxury townhomes will range from 1,193 to 1,379 square feet, with monthly rental rates expected between $2,600 and $2,900. The 14.5-acre gated community will be highly amenitized, including a resort pool and spa, clubhouse, dog park, hammock park and ramada for yoga classes.
Usually, Family Development, which is based in Palm Desert, east of Los Angeles near Palm Springs, builds its own communities, said Vince Barbato, a company principal.