Rental properties like single-family homes going up in Tucson area

2013-05-17T00:00:00Z 2013-05-28T14:08:52Z Rental properties like single-family homes going up in Tucson areaGabriela Rico Arizona Daily Star Arizona Daily Star
May 17, 2013 12:00 am  • 

Developers of single-family-style rental homes have multiple projects underway around the city.

Aerie Development's first complex on Tanque Verde Road opened in March 2012, and its second, near Ina and Thornydale roads, opened earlier this year.

Three complexes are under construction and three more are planned for Marana.

The apartment developers, Aerie Development LLC, say the Great Recession created a market for renters.

"There's a significant population looking for rental properties," said Roger Karber, an Aerie managing member. "It's proven to be very successful so far."

He said both completed complexes are fully leased and the new properties are preleasing at a fast pace.

The properties all have swimming pools and Jacuzzis, but more attention was paid to the living space rather than amenities, Karber said.

"Customers told us they really wanted us to spend their rent dollars inside their home," he said.

"We trust they know where to find a health club, if they want one."

Aerie homes feature 10-foot ceilings and windows in every room, including the closets and showers, to let in natural light.

They range in size from 650 to 1,250 square feet and are designed as detached homes in one-, two- and three-bedroom models. All have private yards.

Rents range from $834 to $1,220 a month.

At a recent meeting of the Pima County Real Estate Council, it was reported that there are 2,100 rental units in varying stages of development and that absorption is outpacing supply.

Aerie properties

Completed

• Aerie at Tanque Verde on Tanque Verde Road near Desert Links Drive. Opened in March 2012 with 85 units.

• Aerie 4050 on West Aerie Drive near Ina and Thornydale roads. Opened in March with 166 units.

Under construction

• Aerie 1000 on River Road and Hansen Avenue, between Oracle and La Cañada roads. 76 units.

• Aerie Preserve on Orange Grove and Mona Lisa roads. 184 units.

• Aerie at Sabino & River, near Sabino Canyon and River roads. On the southwest corner will be 59 units. On the southeast corner will be 200 units.

Future projects

• Three complexes on vacant land on Aerie Drive in Marana, near Ina and Thornydale roads. Sizes not yet determined.

Contact reporter Gabriela Rico at grico@azstarnet.com or 573-4232.

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