In response to the growth of the build-to-rent sector, Freehold Communities has announced the creation of a new affiliate company, 360 Communities, that will build and manage new-home neighborhoods for lease in a number of Freehold master-planned communities.
The first 360 Communities homes are available at the Shearwater master-planned community in St. Augustine, Florida. The build-to-rent homes are designed to match the quality of the for-sale homes, with single-family and townhome floor plans ranging from two to four bedrooms in size.
“Creating 360 Communities expands our ability to create great engaged communities that hold their appeal even in a rapidly changing market,” says Casey Tischer, co-founder of Freehold Communities. “Our experience in large-scale developments and strong relationships with the best home builders in America provide unique differentiators that ensure high-quality homes in highly desirable communities. We believe that combination— alongside our demonstrated commitment to creating vibrant neighborhoods—creates an exciting opportunity for residents who choose to lease over buying a home.”
New 360 Communities neighborhoods are planned for a number of other Freehold Communities, including Durham Farms in Hendersonville, Tennessee. The company is also exploring developments outside its existing footprint.
According to Freehold Communities, since 360 Communities is associated with a master plan developer, it is able to create homes that match the look and feel of the surrounding neighborhoods and maintain them to a high standard of quality over the long term.
“We are investing right alongside our homeowners to build sustainable long-term value,” Tischer says. “The demand for new homes for lease is clear, and it’s important for us as a community developer to ensure the homes for this market segment are well-built and well-maintained. If we do that, we will protect the spirit of community that draws people to the special places we create.”
