Welcome back to The Build

We're on track to deliver over 1,300 units in 2025 - about 1/20 of all BTR homes being built in the US - up from last year's 372 completions (which landed us on the Builder Next 100).

Industry-wide, there has been an uptick in deliveries thanks to the deluge of projects that started 12-18 months ago. But for new developments, construction costs are top of mind.

Particularly for new BTR operators who are trying to get their projects to pencil today to capitalize on 2027's impending supply gap. We recently took a deep dive into the price per square foot to build different BTR product types and some of the often-missed variables that will impact development costs.

In this issue, we also discuss:

1. Breaking ground with Crescent Communities

3. Completing 742 homes in the Jasper clean-energy MPC

4. Reaching turnovers with

NexMetro Communities,

Sunbelt Holdings, and 29th Street Capital

Strategies for Managing Vertical Construction Costs in Build-to-Rent Developments

"What is the cost per square foot difference between townhomes, cottages, or single-family detached?"

"What variables impact vertical construction costs other than materials and labor?"

"How do I know if I'm paying too much?"

Get all the answers

1,502 Homes: Broken Ground. Leased Out. Moving In.

Our construction teams are ramping up production with now 7 projects across Arizona and Texas at critical milestones, totaling 1,502 units under production.

Groundbreaking

HARMON Ascend by Crescent Communities

125 townhomes on 13-acres in Avondale, AZ

Completed

The Flats at Jasper by Atlantic Jasper LLC

240 horizontal apartment-style cottages in Prescott Valley, AZ

With the completion of the first BTR community in the MPC, Mosaic has now completed 742 units in the Jasper clean-energy community.

Now Leasing

The Hillburn by Sunbelt Holdings

283 single-family detached homes and townhomes in Phoenix

Learn more on the leasing site.

Now Leasing

Avilla Berry Creek Highlands by NexMetro Communities

224 horizontal apartment-style cottages in Georgetown, TX

Read more about pre-leasing.

Now Leasing

Verge by 29th Street Capital

201 cottages in Apache Junction, AZ

See Verge's unparalleled views.

Starting Vertical

Corsica Villas | 29th Street Capital

152 townhomes and carriage-style units in Phoenix

Both Corsica Villas at 20th Street and Corsica Villas at Euclid Ave have reached the vertical construction phase. The sites, about a mile apart, are quickly reaching first turnovers.

In the News

Mosaic was named one of the top 200 homebuilders in the US by BUILDER Magazine. We built 1,000 homes in just 4 years - last year we topped out at 372 completions.

Check out the full list

Salman Ahmad, CEO, shared with Tim Fergestad how Mosaic Hub makes residential construction more efficient - without third party behavior change on the Phoenix Prosperity Podcast.

Listen to the full episode

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Mosaic 2555 E Camelback Rd, Suite 300, Phoenix, AZ, AZ 85016