Finding Its Home

Finding Its Home

Porter Kyle settles into new digs at Scottsdale Airpark

By Sherry Jackson

A sleek new office in the Scottsdale Airpark mirrors Porter Kyle’s contemporary designs. The multi-family development company builds and leases boutique townhome communities, filling a niche in the Valley’s hot rental market.

Its new Scottsdale location provides the small company not only room to grow Porter Kyle’s seven-person team but a more central location for easy access to its ongoing projects.

“The space fit our needs,” says Taylor Shultz, one of the owners of Porter Kyle. “The Airpark has a great central location.”

Shultz, along with Michael Stephan and Matthew Long, comprise Porter Kyle, which was founded in 2013. Their backgrounds include economics and business degrees from The University of Arizona, and the possession of series 6 and 63 securities licenses. Prior to forming Porter Kyle, the trio worked for one of the world’s largest investment management companies, sold investment real estate for the nation’s largest privately owned investment real estate company and worked in the commercial banking space with a major U.S. bank.

They initially built single-family homes. Three years ago, they transitioned to multifamily. The name of the company, Porter Kyle, comes from two of the partners middle names.

The townhome niche makes Porter Kyle somewhat unique in the industry. The company does a lot of work inhouse, instead of using subcontractors. It also self-manages its properties and works closely with investors.

“We’re vertically integrated, which means we’re both the builder and the developer,” Shultz says. “We’ve got our own project managers, project superintendents and do a lot of things in house. Even though we’re a smaller, newer company, the team we’ve created is pretty sophisticated and has a lot of experience.”

Porter Kyle’s first project was The Alan, a 17-unit townhome community on McKellips Road, between Gilbert and Lindsay roads, in Northeast Mesa. The Alan was completed in 2018 and was 100% leased when it was sold in March.

“Our communities really appeal to everyone,” Shultz says. “It’s the feeling of a single-family home but in a rental community.”

The company has three projects underway. They include phases one and two of The Monarch, a 39-unit development in Cave Creek. The townhome community is set on a hillside along Cave Creek Road with views of the McDowell Mountains and will offer two- and three-bedroom units ranging from 1,250 to 1,500 square feet with anticipated rental rates ranging from $1,600 to $1,900 a month. Each unit is a modern, contemporary design and offers stainless steel appliances, quartz countertops, open floor plans, direct-access garages, 10-foot ceilings and private courtyards. Community amenities will include a pool, gazebo and park. Leasing on phase one will begin in late summer/early fall.

The third project is still in the planning and zoning stage. It’s a 44-unit townhome complex in Gilbert, near Gilbert Town Square. One-, two- and three-bedroom townhomes will be available, and the community will feature a pool, dog park and playground area. They hope to break ground late this year, Shultz says.

The company’s long-term goals are to develop larger and larger townhome projects.

“We have a desire and want to get to the next level,” Shultz says. “But we also want to make sure we’re growing responsibly and are delivering a great product and a good value.”

 

Info: porterkyle.com.