Build to Lease SFR Developments

[Brant Garner]

Anyone have knowledge of these type developments? I’ve read about a local developer who’s started construction on one. Maybe I’m behind the curve but I would like to know if this is starting to take off in other areas of the country as well. Seems to be a great idea if properly managed. I think this would offer older millennials who are starting a family an attractive option in that they’re moving into a newer home without the commitment and lack of mobility that ownership requires. I also envision these developments being more aesthetically pleasing making them more attractive than most tenant heavy neighborhoods. As a commercial broker I’m also curious if any of these developments have sold after being built out. It seems they would be quite attractive in the investor market.