Greenlight Communities is the first developer to focus solely on attainable housing rental product. The developer is addressing the nationwide housing crisis, and already has two projects underway in Scottsdale, Arizona. Greenlight has been working on attainable housing for a decade, and has now created a strategy for ground-up development.

“When the downturn came, we saw a niche in the market to buy older apartment buildings and renovating them,” Patricia Watts, co-founder of Greenlight Communities, tells “We were able to buy older apartment buildings in really good locations and bring them back to life by upgrading the property. We were providing attainable rental housing, and it was housing that was affordable for people that lived in the neighborhood. It was a really successful model.”

Now, the developer is shifting from a value-add strategy to ground-up development. The firm’s first two developments are Cabana on Washington, a 226-unit, $32 million project, and Cabana on 12th, a 252-unit projects. Both projects are scheduled for completion in April 2020. “We knew there was a market for this segment, and we wanted to see if we could build into that market segment. That had been a challenge for developers,” says Watts. “Developers were building luxury product really well, but no one was really building attainable and we knew that was where the demand was.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

More from this author



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.