Phoenix, January 13, 2026

Trammell Crow Residential’s expansion into Phoenix, Arizona, marks a significant step in addressing the housing demands of a rapidly growing population. This strategic move reinforces confidence in Phoenix’s economic potential and aims to create high-quality rental housing through private investment. The expansion comes amid local legislative efforts to alleviate the housing shortage, highlighting the city’s appeal for residential investment. Both Trammell Crow and local developers are working to support the evolving needs of the community as the economy continues to thrive.

Phoenix, Arizona

Phoenix Poised for Growth with Trammell Crow Residential Expansion

Phoenix’s dynamic economic landscape continues to attract significant investment, further solidifying its reputation as a hub for innovation and opportunity. A recent development poised to amplify this growth is Trammell Crow Residential’s strategic expansion into the market, underscoring the confidence private enterprise places in our city’s future.

This expansion arrives at a pivotal moment, as local entrepreneurs and developers work diligently to meet the evolving housing needs of a rapidly growing population. Such private sector initiatives, often thriving under environments that encourage rather than hinder development, are crucial catalysts for job creation and sustained economic prosperity. The move by a prominent national developer like Trammell Crow Residential highlights the compelling fundamentals that make Phoenix an attractive destination for investment and a testament to the resilience and potential of our local economy.

Strategic Expansion in Key Growth Markets

Trammell Crow Residential (TCR), a leading multifamily developer in the United States, announced on January 8, 2026, the expansion of its national platform with the opening of new offices in Phoenix, Arizona, and Nashville, Tennessee. This strategic move aims to strengthen TCR’s on-the-ground presence in what it identifies as two of the country’s fastest-growing and most dynamic multifamily markets.

The firm has appointed experienced leaders to guide these new ventures. Tom Lewis has been named Managing Director for the Phoenix office, while Peter Davis will serve as Managing Director in Nashville. Both executives bring deep regional expertise and extensive experience in executing high-quality multifamily development within their respective markets.

Phoenix’s Enduring Appeal for Residential Investment

The decision to establish a significant presence in Phoenix is rooted in the city’s robust economic health and demographic trends. Phoenix continues to attract residents and employers at a remarkable pace, signaling a durable demand for high-quality rental housing.

The Phoenix housing market in 2025 experienced a period of stabilization and recalibration rather than dramatic fluctuation. It saw inventory expansion and a shift towards more discerning buyer behavior, suggesting a market finding its equilibrium after years of rapid change. Forecasts for the 2025-2026 period indicate modest and gradual home price growth. Nationwide, existing home sales are expected to rise by 6% in 2025 and accelerate by 11% in 2026. New home sales Nationwide are projected to climb by 10% in 2025 and another 5% in 2026. In January 2025, the median home price in Phoenix, Arizona, was $455,485, representing a 5.8% increase from the previous year. By December 2025, the median price of a single-family home in the metro area saw a slight change, reaching approximately $480,000, up 0.3% from the prior year. These figures underscore a steady, sustainable growth trajectory that appeals to long-term investors.

Beyond market dynamics, legislative action is also playing a role in fostering development. Starting in 2025, Arizona’s House Bill 2297 aims to reduce regulatory hurdles for converting vacant commercial properties into an estimated 150,263 apartment units across the Phoenix and Tucson metro areas. This State-level initiative seeks to address the statewide housing shortage, estimated at 270,000 homes, and is projected to generate over $61 billion in economic impact and create more than 375,000 direct and indirect jobs across the State.

Nashville’s Economic Vibrancy and Housing Demand

Similarly, Nashville has emerged as a compelling market for residential development. Recognized as one of the nation’s fastest-growing multifamily markets, its evolution into a major economic and cultural hub has generated sustained demand for new housing options. Nashville ranked #6 in the Emerging Trends in Real Estate 2026 report, highlighting its attractiveness to investors and developers.

The Nashville real estate market has transitioned from the rapid growth seen between 2020 and 2022. It now maintains an active pace with stabilized prices and an increase in inventory, providing more choices for buyers. Economists anticipate that mortgage rates may ease further, potentially settling in the mid-6% range by 2026, which could stimulate additional buyer activity. As of 2025, Nashville’s metro area population was approximately 1,350,000, marking a 1.28% increase from the previous year, a significant factor contributing to ongoing housing demand. The median sale price for Nashville in 2025 was $471,749.

Trammell Crow Residential’s Enduring Approach to Development

TCR’s growth strategy is not merely about expansion for its own sake, but rather about a deliberate focus on being in the right markets, at the right time, with the right people. The firm emphasizes creating long-term value for its partners and the communities it serves. With over 45 years of experience, TCR has developed more than 290,000 premier multifamily residences Nationwide, establishing a legacy of creating amenity-rich communities in economically thriving locations.

Part of TCR’s broader vision includes its “attainable housing” platform, Allora. This initiative is designed to deliver high-quality, lifestyle-focused apartments to growing communities of middle-income residents across the United States. Allora targets individuals making 80% of the area median income, though this can adjust up to 120% in certain markets like California to ensure housing remains attainable. Rents in Allora communities are targeted to be approximately 15% to 20% lower than those in luxury Class A properties within the same market, addressing a critical need for diverse housing options.

The Impact of Private Investment on Local Economies

Private investment in residential development, particularly from experienced firms like Trammell Crow Residential, plays a vital role in fostering economic growth. Each home sale in Arizona, for instance, generates over $127,000 in economic impact, supporting local businesses and creating jobs within the community. Multifamily real estate is considered a robust investment, particularly in growth markets, offering stable returns regardless of broader market fluctuations.

Crow Holdings, the parent company of TCR, boasts nearly 80 years of history and manages $34 billion in assets, reflecting a long-standing commitment to real estate investment and development. Their approach emphasizes a diversified portfolio, focusing on demographic trends and domestic migration to identify promising opportunities.

Conclusion

Trammell Crow Residential’s expansion into Phoenix signifies a strong vote of confidence in the region’s economic vitality and its future growth potential. By bringing significant private capital and extensive development expertise, TCR is poised to contribute meaningfully to the supply of quality housing, fostering an environment where both individuals and businesses can thrive. This influx of investment not only addresses housing demand but also stimulates various sectors of the local economy, from construction to retail, creating a ripple effect of prosperity.

As Phoenix continues its trajectory as a leading city for innovation and opportunity, supporting local businesses and embracing responsible development remains paramount. We encourage our readers to stay engaged with the ongoing economic developments shaping our community and to champion the entrepreneurial spirit that drives Phoenix’s remarkable growth.

Frequently Asked Questions (FAQ)

When did Trammell Crow Residential (TCR) announce its expansion into Phoenix and Nashville?

Trammell Crow Residential (TCR) announced the opening of new offices in Phoenix, Arizona, and Nashville, Tennessee, on January 8, 2026.

Who are the Managing Directors for the new Phoenix and Nashville offices?

Tom Lewis is the Managing Director for the Phoenix office, and Peter Davis is the Managing Director for the Nashville office.

What is TCR’s strategic rationale for expanding into these markets?

TCR’s strategic rationale is to invest in markets that demonstrate long-term population growth, strong employment fundamentals, and durable demand for high-quality rental housing.

What was the median home price in Phoenix, Arizona, in January 2025?

In January 2025, the median home price in Phoenix, Arizona, was $455,485.

What is the projected economic impact of Arizona’s House Bill 2297?

Arizona’s House Bill 2297 is projected to generate over $61 billion in economic impact and create more than 375,000 direct and indirect jobs across the State.

How many apartment units is House Bill 2297 expected to facilitate in Phoenix and Tucson metro areas?

House Bill 2297 is expected to pave the way for an estimated 150,263 apartment units to be built in the Phoenix and Tucson metro areas.

What was Nashville’s metro area population in 2025?

As of 2025, Nashville’s metro area population was approximately 1,350,000.

What is Trammell Crow Residential’s Allora platform?

Allora is Trammell Crow Residential’s attainable housing platform, aimed at delivering high-quality, lifestyle-focused apartments to growing communities of middle-income residents across the United States, with rents approximately 15% to 20% lower than luxury Class A in the same market.

Key Features of Trammell Crow Residential’s Expansion

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Author: STAFF HERE PHOENIX WRITER

The PHOENIX STAFF WRITER represents the experienced team at HEREPhoenix.com, your go-to source for actionable local news and information in Phoenix, Maricopa County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Waste Management Phoenix Open, Cactus League Spring Training, and Arizona State Fair. Our coverage extends to key organizations like the Greater Phoenix Chamber of Commerce and Visit Phoenix, plus leading businesses in technology and healthcare that power the local economy such as Intel and Banner Health. As part of the broader HERE network, including HERETucson.com, we provide comprehensive, credible insights into Arizona's dynamic landscape.