ARK Launches Leasing at Jacksonville BTR Community
The 79-unit project is due online by April 2024.
ARK Homes For Rent has kicked off leasing for its latest build-to-rent community in Jacksonville, Fla., which is expected online early next year. The new project is located across the street an existing ARK property.
The developer began construction on Kaeleigh’s Crossing in late 2022, delivering the first units in October 2023, Jordan Kavana, founder & CEO of ARK Homes For Rent, told Multi-Housing News. With leasing underway, Kavana also told MHN that all the units are expected to be completed by April 2024.
The 79-unit community will offer three- and four-bedroom floorplans, ranging from 1,711 to 1,975 square feet. The units will be built with open kitchen designs featuring stainless steel appliances, modern countertops and designer wood cabinets. Located within Jacksonville’s Settlers Landing submarket, Kaeleigh’s Landing will be within two miles of several large retailers, including Target, Publix, Walmart, Costco and Winn Dixie. The community is also located near one of the area’s major employers, the Naval Air Station Jacksonville.
ARK plans to offer an app to assist residents with paying rent, submitting maintenance and work orders and receiving HOA information. The app also gives residents access to the ARK Living platform that offers preventative health content and on-demand wellness features.
ARK’s Settlers Preserve community is located across the street from Kaeleigh’s Crossing. That neighboring community marked ARK’s entry into the Settlers Landing market of Jacksonville, which Kavana notes has been expanding due to growing population and a robust job market.
Overall, ARK has focused on newly-built single-family rentals across the Sun Belt states. Besides its Jacksonville communities, the company has invested in properties in Alabama and North Carolina, with a majority of its portfolio located in Georgia and South Carolina. Like several other developers, ARK made plans to invest up to $2 billion in single-family rentals and BTR communities earlier this year.
”We are constantly evaluating opportunities to expand our holdings with accretive investments in the Jacksonville, Central and Southwest Florida areas,” Kavana told MHN. “We expect to grow our portfolio over 2024 and beyond in our target markets.”