Woodfield Development, ranked the No. 21 multifamily developer in the U.S., is making a major push into the Southwest. The Charleston, South Carolina-based firm has appointed Neil Hanlon as vice president of development, charging him with spearheading its new expansion into Arizona and Nevada, according to a company announcement shared with Multifamily Dive.
Hanlon brings extensive experience in the region, having spent more than seven years at Greystar, most recently as director of development in Phoenix, where he led multifamily projects across the Southwest. His background also includes roles in investment banking and senior housing acquisitions in New York and San Diego — expertise Woodfield hopes will accelerate its growth strategy beyond its traditional strongholds.
Woodfield leaders say Phoenix and Las Vegas share many of the key fundamentals that made the firm successful across the Southeast and Texas: strong job growth, population influx, business-friendly policies and a high quality of life.
“Texas was our last expansion before things began to change in late 2022 and 2023,” said Todd Jacobus, a partner at Woodfield Development.
While Phoenix had long been on the company’s radar, it was Hanlon who convinced leadership to expand their scope.
“We zeroed in on Phoenix because it’s got a rapidly diversifying economy,” Jacobus said. “It’s got some of the things that appeal to us in Southeastern markets.”
However, Hanlon argued that Las Vegas could offer even stronger near-term momentum.
“He said, ‘Phoenix is good long term, but right now, where we’re seeing traction is in Las Vegas, and I would urge you guys to look there as well,’” Jacobus recalled. “If he brings us a Vegas deal and it makes sense, we’ll compare that on equal terms to something in Phoenix. We’re open to him convincing us where we need to go.”
Founded in 2005 by Greg Bonifield and Mike Underwood, Woodfield first focused on the Southeast and Mid-Atlantic, later expanding into the Northeast, Florida, Tennessee and Texas. The move into Arizona and Nevada marks its first major step into the Southwest and Mountain West.
The company views the new territories as launch pads for broader regional growth, though it isn’t looking to overextend too quickly.
“I don’t see us making a move to the coasts,” Jacobus said. “But that leaves a lot of tertiary markets or even smaller major metros like Salt Lake or Boise or you’ve heard a lot about Reno.”
One of Woodfield’s flagship developments, Morrison Yard in Charleston, South Carolina, has become a showcase for the firm’s upscale mixed-use strategy — a model it could replicate in Phoenix or Las Vegas.
As migration patterns continue to favor Sun Belt and Western metros, Woodfield’s entrance into Arizona and Nevada signals growing confidence among institutional developers in secondary yet fast-rising multifamily hubs.
Originally reported by Leslie Shaver in Multifamily Dive.
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