The developer, Trilogy Investment Co., has already begun civil construction and lot development and plans to start home construction in June, with final delivery in the fourth quarter, according to managing partner and CEO Jason Joseph.
“Our Build-for-Rent model generates tremendous yields for our investors and creates a new class of affordable options for the growing number of Americans priced out of homeownership,” Joseph said in a press release. “We start with imaginative land planning and value engineering to target sites in high growth corridors and then partner with residential builders to expedite delivery.”
Lennar Corp. is the homebuilder of the development, which will be known as Evergreen Estates, a Reve Community.
The detached homes will encompass 1,800 to 2,100 square feet each and have three and four bedrooms and two-car garages. Amenities will include a playground, enclosed dog park, walking trails and greenspace.
Trilogy also announced that Michael Nolan will take over as its CFO. He previously served as COO of HST Pathways, a Bain Capital-owned healthcare IT company.