High interest rates and a housing shortage have driven more people to renting, and experts predict a severe shortage in the next 2-3 years as current multifamily projects under construction are absorbed. In response, MODUS Companies, a leading developer of Zero Energy Ready Home (ZERH) communities, is investing $425M to bring 1,030 NZE build-to-rent units to the Arizona market in the coming year.
Ed Gorman, the founder of, foresaw this shift and recognized the opportunity to make a difference. MODUS builds homes at the same cost as non-NZE competitors but offers significantly more value to renters, such as utility bills that are 50-70% less. This approach positions MODUS to make a significant impact in the build-to-rent (BTR) space in the coming months. With half a billion dollars currently invested in projects throughout the state, MODUS is one of the top acquirers of multi-family land. Upcoming projects include.
Buckeye Village Centre in Buckeye, Arizona (78 units)
Currently named the fastest growing city in America, MODUS will be building a 78-unit community of rental homes across eight acres of land that is among the city’s downtown redevelopment. The 1- and 2-bedroom floor plans with private back yards will all be built with Zero Energy Ready Home standards, rooftop solar, numerous energy-saving features and electric vehicle charging stations.
Sundance Village in Buckeye, Arizona (154 units)
This master-planned community in Buckeye, Arizona will feature 154 rental homes that include 1-, 2- and 3-bedroom floor plans, each with private back yards, some with direct-access garages, a recreational trail, dog park, pool and spa, gym and pickleball court. All homes will be built with ZERH standards, rooftop solar and other energy-saving features.
Sundance Station Apartments in Buckeye, Arizona (272 units)
Sundance Station will be the first new apartment project in the city of Buckeye in the past 20 years that will provide entry-level housing to the rapidly growing market. The 272 Class A apartment units will include 3- and 4-story buildings with elevators that lead to 1-, 2- and 3-bedroom apartments, each designed with Zero Energy Ready Home standards, and premium amenities (including a pool, spa, lounge and fitness center).
MODUS Companies' commitment to sustainable and affordable housing solutions could be a game-changer for Arizona's housing market. By focusing on Zero Energy Ready Homes, they not only address the housing shortage but also contribute to a more environmentally friendly and cost-effective future for renters.
