This story was originally published 02/2022.
The city’s first single-family home for rent community is under construction.
The Bungalows on Bowlin project is being developed by Scottsdale-based Cavan Companies, and will offer one, two and three-bedroom bungalows for rent at the northwest corner of John Wayne Parkway and Bowlin Road.
Jon Hamel, the Vice President of Construction for Cavan Companies, said the project is ideal for the Maricopa market.
“The project just suits the overall growth in the market down there,” Hamel said. “A lot of people want to live in Maricopa, it’s a short commute to the East Valley where there are a lot of jobs, and it’s a much more affordable option. A lot of businesses are coming down there that need the housing for their workers. Maricopa as a whole is an attractive option and they need both rentals and single-family homes. But the rental market there is really underserved.”
Cavan will address the need with its 196-unit project, which Hamel said he expects to begin leasing in early to mid-July and begin move-ins in mid-August.
The units will range in size from 676 square feet for a one-bedroom, 1,012 sq. ft. for a two bedroom and 1,355 sq. ft. for a three bedroom. There are 60 one-bedroom units, 88 two-bedrooms and 48 three bedrooms in the community, and Hamel said the company’s goal is to be fully leased by late this year.
Maricopa City Manager Rick Horst said he thinks multi-family projects are good for the city and its future.
“A healthy mix of housing options, including market-rate and affordable rental housing, single-family homes, duplexes, as well as developments for seniors, ensures opportunities for all individuals to improve their economic situation and contribute to their communities,” Horst said.
Hamel said rental rates for the property have not yet been determined. The company typically waits until about 60 days prior to the start of leasing to determine rates based on current market conditions.
The 17-acre community has completed its horizontal infrastructure and has begun to go vertical. Community amenities include a resort-style swimming pool, farmhouse-style clubhouse, spa, dog park, bocce ball courts, picnic areas, barbecues, and walking paths throughout the community.
Hamel said Cavan is relying on its experience with this type of community to drive success in Maricopa, as they have 22 similar projects in some stage of development throughout metro Phoenix.
“We’ve had lots of success with this kind of community and our demographics show this type of project appeals to all groups,” he said. “Young married couples, young families, retirees that want a lock and leave opportunity – this works for all of them.”
Asked if he could see Bungalows on Bowlin being a precursor to similar projects if it proves successful, Horst said market conditions point that direction.
“The market will determine the longevity of these housing types,” he said. “But in lieu of the fact that housing in the greater Phoenix area is outpacing most of the country… yes.”