ARK Homes Wraps Georgia BTR Project
More than 200 townhomes have been completed across 25 acres.
ARK Homes For Rent has completed its latest build-to-rent community, Walker Point, in Brunswick, Ga. The 237-townhome collection is spread across 25 acres. The company celebrated its opening with a ribbon cutting event late last week.
Walker Point homes features two- to four-bedroom layouts. Rents start at $1,649 per month.
Homes feature granite countertops, large kitchens and living rooms, energy-efficient stainless-steel appliances and laundry rooms with a washer/dryer. The community includes an on-site clubhouse with a fitness center, yoga room, swimming pool, an outdoor lounge with BBQ and dining areas and a dog park. The homes overlook two substantial ponds.
“Brunswick is a city full of coastal charm and a rich history,” John Isakson, CEO of ARK Homes For Rent, told Multi-Housing News. “As demand for quality rental housing continues to grow, the Walker Point community is a testament to our commitment to investing in the city and providing quality homes.”
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Brunswick is a historic destination for visitors given its Victorian-era architecture, art galleries, local shops, restaurants, 900-year-old oak tree and marina-front park. Education institutions, convenient transportation options and outdoor activities such as fishing, dolphin watching and kayaking are all in proximity.
Other BTR projects across the nation
“Capital interest in the BTR sector tremendously outweighs deployable opportunities across developments, forward sales and stabilized communities,” Matthew Putterman, managing director single family rental leader, JLL Capital Markets, told MHN. “Leasing activity is gaining momentum, with some communities already experiencing double or triple more leases in March than February or January.”
As more investors investigate the strong potential behind the BTR sector, more activity is brewing across the nation. Among the recent BTR activity is The Woodlands for The Sylvan by Marquette Cos., which has begun preleasing in Houston.
“The Sylvan’s master-planned design with lush green spaces, top-tier amenities and proximity to major employers aligns with our strategy for modern, lifestyle-driven single-family rental communities,” Chris Yuko, managing director of development at Marquette Cos., told MHN.
Also upcoming this year, NexMetro will open six new Avilla Homes communities, representing more than 1,200 new BTR homes in the Austin, Phoenix and Dallas metros.
“We’re seeing considerable demand for our leased home neighborhoods because a growing number of consumers are seeking a lifestyle that combines a new detached home with mortgage-free, maintenance-free living,” Jason Flory, managing director for NexMetro in Austin and Atlanta, told MHN.
Flory added that the single-family lifestyle of BTR neighborhoods is especially appealing to those priced out of the new home market. “We see long-term opportunity in these dynamic markets because of their continued strong demand drivers of population, household income, and job growth, along with well-situated submarket locations that appeal to renters by choice in the market.”
Earlier this month, a luxury BTR project in Deerfield, Ill., also secured a construction financing package. Park5, located some 30 miles northwest of downtown Chicago, is set to feature two- and three-bedroom homes.
