Build-to-Rent Strategy for Southeast Market

Overview

Services Offered
  • Project Opportunity Analysis
  • Product Recommendations
  • Rent Recommendations
  • Demand Analysis

HomeFed Corporation is a real estate development company that specializes in creating vibrant, mixed-use master-planned communities that combine innovative placemaking techniques and environmental stewardship.

Objective

HomeFed had a nascent business strategy for development of build-for-rent (BTR) projects in the southeast. The Client also had a specific 15-acre site sandwiched between commercial uses and green space and pocketed with wetlands. HomeFed hired JBREC to

  • conceptually allocate land area and recommend product suited to the various parts of the site, and
  • recommend rents and estimate absorption for the proposed product. 

 

HomeFed also hoped that the product recommendations would inform their development of other sites. 

Approach and Solution

JBREC created a custom solution to HomeFed’s site-specific challenge and provided options for subsequent developments. We…

  • analyzed demographic, economic, and housing-market trends across the market,
  • measured demand in the area using our proprietary model,
  • surveyed nearby rental projects of various types,
  • leveraged our national BTR database, and
  • folded all of that together with our experience analyzing successful rental product across other markets to recommend product and rents and estimate absorption. 

 

To maximize site utility and value, we recommended three-story apartment buildings around the adjacent commercial building and rental townhomes (including single-level plans to cater to the area’s abundant retirees) along the open space and nestled around wetlands. 

“A thorough market study is a critical component of our due diligence process.  A John Burns study always delivers a detailed analysis of the market and project expectations.  It helps us make informed decisions, especially given the recent inconstant market conditions.” 

-HomeFed Vice President, Southeast

Impact

HomeFed used our analyses to assess the viability of the site and formulate product that could be used at future rental communities.

Featured Consultants

Will Frank
Will Frank
Senior Vice President, Consulting
Will manages and motivates a team of expert consultants to deliver outstanding analysis and recommendations for projects across the country.
James Penner photo
James Penner
Manager, Consulting
James is a project opportunity/feasibility expert who specializes in rental product (apartments and BTR) and Southeast markets.

Case studies

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Build-to-Rent First Look Study in Chattanooga, TN
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Consulting Services

Real Estate Consulting

Home Building, Land Development, Build-to-Rent, Single-Family Rental, Apartments, Mixed-Use

Our experienced team of consultants thrives on helping our clients make great investment decisions. We will be an extension of your team, helping develop the right strategy for your next project. 

capabilities

Building Products Consulting

Structural Building Materials, Interior Fixtures, Prefab Construction, Commercial Construction

Our team is comprised of industry experts with diverse sector and functional experience. We partner across organizations to provide custom consulting reports to aid organic and inorganic investment decisions, strategic planning, and marketing

Capabilities

Contact us to maximize your opportunities in the housing market.

If you have any questions about our services or would like to speak to one of our experts about how we can help your business, please contact Client Relations at clientservices@jbrec.com.