UPDATES

Community living

LGI Homes has announced the opening of Carter’s Retreat, a new community in the Nashville, Tennessee market. The community offers an array of brand-new, one and two-story single-family homes. There are five spacious floor plans ranging from three to five bedrooms with two to two-and-a-half bathrooms. Each new home comes with LGI Homes’ interior package, with a range of at no additional cost.

“We are excited to return to the city of Murfreesboro with the opening of our Carter’s Retreat community. The demand for homeownership continues to be strong, and we are here to meet that demand. Customers will appreciate our line-up of affordable, quick-move-in homes,” says Christian LeMere, Vice President of Operations for LGI Homes.

Take a tour

Century Communities has revealed four new model homes for tour at its sought-after Skye Canyon development in the Las Vegas neighborhoods of Eaglepointe and Marvella.

The two-story plans feature three to six bedrooms, beautiful open-concept layouts, exceptional craftsmanship, and stylish fixtures and finishes, including the Century smart home package.

Homebuyers will love access to an array of resort-style amenities, including community parks, a pool, and a fitness center. Says Robb Beville, Nevada Division President: “This is a great opportunity for buyers and agents to explore available new homes and learn about special offers, as well as check out the incredible community amenities that this development boasts.”

Making dreams a reality

A Clayton CrossMod home on display at the Recreational Vehicle/Manufactured Homes Hall of Fame is now open to visitors. The home represents a modern housing solution for individuals and families amid the ever-growing affordable housing crisis. Clayton, a national home builder, offers beautiful, attainable homes, like the one on display, that feature a variety of unique styles and energy-saving home options.

The Clayton CrossMod home, along with two other off-site built houses, is part of a new 21,000 squarefoot Manufactured Home Museum expansion. The new wing is dedicated to showcasing the industry’s history and the innovations yet to come. It features interactive displays and the opportunity to tour three off-site built homes.

“CrossMod homes are built off-site like manufactured homes and are an affordable, sustainable solution to today’s housing crisis. They can also be built more efficiently than traditional site-built homes,” says Kevin Clayton, CEO. “More consumers, lenders, appraisers, and zoning officials are realizing the benefits of building a home indoors – and when visitors walk through this CrossMod home they will see just how indistinguishable it is from any other beautiful, modern house.”

These new homes are an example of how the industry continues innovating the building process to help even more individuals and families achieve the dream of homeownership.

Prime location for seniors

Allegro Senior Living, a premier senior living operator, is expanding its Florida presence with Allegro Fort Lauderdale, its 12th community in the state.

The development of Allegro Fort Lauderdale is led by Alliance Residential Company, a nationwide residential real estate developer with a regional office in Boca Raton, Fla. Alliance is working with local firms MSA Architects and FLYNN Engineering on the design and construction of the community, among others, and Allegro Senior Living will assume management and oversight of the community.

Allegro Fort Lauderdale includes 188 units on eightlevels and was designed with modern sensibilities at every turn and offers independent, assisted living, and memory care. The community is more than 280,000 square feet and boasts a variety of offerings and services including multiple indoor and outdoor dining and entertaining options, a two-story theater, Sky Lounge, salon and spa, fitness and wellness center, pool, outdoor fireplace and fire pit, bourbon and whiskey lounge, boardwalk, outdoor gardens, dog park, housekeeping, valet parking, transportation, boat access and more.

Significant sales

Castle Lanterra Multifamily, a division of Castle Lanterra, the New York-based national real estate investment firm, has sold two prominent residential communities in Corpus Christi, Texas.

It recently sold Azure at 7221 South Staples Street and Baypoint Apartments at 1802 Ennis Joslin Road. Castle Lanterra implemented its industry leading capital improvement and handson asset management approach to create two gems in the market and significantly raise the residential properties’ status and value within the Corpus Christi area.

“We are thrilled with the work we have completed at both residential communities and the returns we were able to realize. Both assets have been a great success, with strong IRR and attractive equity multiples,” says Elie Rieder, founder and CEO of Castle Lanterra. “We feel the timing was ideal to implement our exit strategy following a multi-year hold with significant capital investments in the assets. In addition to the disposition of these two Corpus Christi properties, we’ve completed over $240 million in sales and $210 million in new acquisitions during the first half of 2022 and are on pace to surpass our record-breaking 2021 activity.”

Azure is a 220-unit, garden-style apartment community with excellent accessibility to many of Corpus Christi’s major economic drivers, while Baypoint is a one-of-a-kind community featuring 350 units and boasting direct frontage onto Oso Bay.

Resort-style living

Richmond American Homes of California is excited to announce the grand opening of Seasons at The Fairways in Beaumont. This exceptional master-planned community showcases an impressive array of two-story floor plans from the builder’s sought-after Seasons collection; designed to put homeownership within reach for a variety of buyers.

Two model homes are available to view. The collection boasts three two-story floor plans, featuring open layouts and designer details with three to six-bedroom options from which to choose.

The community is in close proximity to Perris Reservoir, San Bernardino National Forest, San Jacinto Wildlife Area, Morongo Casino Resort & Spa and the Cabazon Outlets. From a clubhouse and golf course to pools and parks, prospective homeowners can enjoy a taste of the collection’s resort-style amenities.

A complementary element of purchasing a new home at Seasons is the opportunity to work with professional, in-house, design consultants on the selection of colors, textures, finishes and fixtures to tailor the new living spaces.

Rooms with a view

Toll Brothers, Inc., the nation’s leading builder of luxury homes, reveals a new joint venture to develop The Lindley, a 37-story, 422unit multifamily rental community in San Diego, California.

This is the first Toll Brothers Apartment Living (TBAL) project in the city and is being financed through a $187 million construction loan facility from BNY Mellon and Wells Fargo.

The Lindley was designed by the renowned Joseph Wong Design Associates and is located at the corner of Columbia and Ash Streets.

It will consist of 422 rental apartments and an above- and below-grade parking garage with 561 parking spaces, including charging capacity for 222 EVs. The units will feature high-end luxury finishes and a best-in-class amenity package, including an outdoor pool and spa, coworking spaces, a wine bar and rooftop views of downtown San Diego.

The Lindley expects to earn LEED Gold certification; the framework for healthy, efficient, carbon and costsaving green buildings. Affordable housing is also a critical part of the development project. As part of the entitlement agreement, TBAL is making a significant contribution toward the development of affordable housing in San Diego. This contribution will directly support the construction of 44 affordable housing units off-site in downtown San Diego.

“As our first project in San Diego, we are proudly planting our flag here with The Lindley,” says Charles Elliott, President of TBAL. “We will stay true to the brand and bring the same quality of product and service that we’ve been delivering for over 55 years.”