BOSTON--(BUSINESS WIRE)--Freehold Communities, one of the nations’ most vibrant and forward-looking real-estate developers, today announced a new affiliate – 360 Communities – dedicated to building and managing high-quality new homes for lease in some of the nation’s most desirable markets.
The creation of 360 Communities reflects rapidly growing demand from families at all life stages to lease new homes rather than purchase. The national trend toward leasing of new single-family homes and townhomes is being driven by increased mobility, more rapid career changes and a strong preference for low-maintenance lifestyles in communities with coveted amenities and a strong sense of neighborliness. The number of households earning six-figure incomes who chose to lease their home has increased nearly 60% since 2006 – to about one in five.
“Creating 360 Communities expands our ability to create great engaged communities that hold their appeal even in a rapidly changing market,” said Casey Tischer, co-founder of Freehold Communities. “Our experience in large-scale developments and strong relationships with the best homebuilders 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.”
The first homes available from 360 Communities are in Shearwater, an award-winning master-planned lifestyle community in St. Augustine, FL. Shearwater offers two- to four-bedroom single-family and townhome floor plans. In addition to Shearwater, 360 Communities neighborhoods are planned in several other Freehold Communities, including Durham Farms in Hendersonville, TN. The company is also developing new opportunities outside its existing portfolio.
Unlike many other large-scale owners of homes for lease, 360 Communities is an affiliate of an experienced and successful developer of master-planned communities. That connection allows 360 Communities to create homes that blend seamlessly with the surrounding neighborhoods and maintain the high level of long-term quality expected by all residents. For homeowners in these communities, the decision to maintain control of leased homes reflects an additional ongoing commitment by Freehold Communities to invest in the managed growth and success of their neighborhoods.
“We are investing right alongside our homeowners to build sustainable long-term value,” Tischer said. “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.”
About 360 Communities
360 Communities is an affiliate of Freehold Communities, the nation’s most vibrant and forward-looking developer of master-planned communities. 360 Communities extends Freehold’s philosophy of healthy, engaged and connected communities with purpose-built homes for the growing lease market. 360 Communities partners with top builders to create high-quality leased homes that blend seamlessly with surrounding communities and are professionally managed to deliver exceptional lifestyle experiences to residents.
About Freehold Communities
Freehold Communities is developing over 15,000 residential lots in California, Florida, Georgia, North Carolina, South Carolina, Tennessee, and Texas. We create Vital Communities™ that embrace healthy living, engagement, connectivity, stewardship and distinctive home design. As we evaluate opportunities, we focus on the right planning, the right properties, and the right partners. We begin with comprehensive research to gain insight into the unique needs, trends and preferences in the local market. We then carefully consider each property to determine how we can maintain its beauty and character as we create a Vital Community™. Finally, we partner with quality, creative builders who share in our philosophy by offering niche solutions and unique, timeless designs.