2000 new rent houses in Phoenix?

[Mike Reynolds]

Christopher Todd Communities has just announced a partnership with Taylor Morrison to build new rent houses in Arizona. I hear 2000 are planned in 5 year span. What will this do to existing rental stock? We have had twice in my lifetime that volume added on apts for the college campus and the results were pretty bad. I have never seen this with rental housing on SFR.

Thoughts?

[Ryan Swan]

@Mike Reynolds do you have link to source? I'd be curious to read it

I think it would be a big difference if it were one large planned development vs scattered infill/redevelopment around the metro area. One large development of SFH rentals would certainly have an affect on nearby rentals in the immediate vicinity.