By Matthew Kaufman
One of the properties is located within the 18-acre, master-planned Central Park development.
13th Floor Homes, the homebuilding division of 13th Floor Investments, has completed two single-family rental communities in Port St. Lucie, Fla., bringing a total of 346 townhomes to the city.
Villas of Torino, located at 5600 NW Coventry Circle, comprises 126 build-to-rent townhomes, with rents ranging from $2,300 to $2,800 per month. Homes in the neighborhood range from three to four bedrooms and include two-car garages.
Tredici at Central Park, the second of the two developments, is located at 9530 SW Valletta Way and includes 220 BTR townhomes that also offer a mix of three and four bedrooms. Rents range from $2,600 to $3,000.
The community is gated and is located within the 18-acre master planned Central Park development. Amenities include a pool, clubhouse, dog park and children’s playground, along with fitness and recreation facilities.
The two assets are about 12 miles apart from each other in Port St. Lucie. The city includes numerous shopping and dining options and provides access to Interstate 95.
Florida BTR market expands
Florida continues to see activity in the BTR space. Ceiba Group recently secured a $40.2 million construction loan to build a 227-unit project in Jacksonville, Fla., that will include a mix of BTR and multifamily elements. The project is scheduled to be completed by the first quarter of 2027.
Back in April, Lafeyette Real Estate broke ground on a 66-unit single-family rental project in Lakewood Ranch, Fla. The first units are scheduled to finish by the second quarter of next quarter.
Nationwide, BTR townhome development is expected to increase over the next few years, as consumers search for options that strike a balance between privacy and affordability.