Multi-family housing innovator Christopher Todd Communities and America’s Most Trusted® Home Builder Taylor Morrison Home Corporation (NYSE: TMHC) are bringing a new single-family for-rent community to Taylor Morrison’s 141-acre Paradisi master plan in Surprise, Ariz. located on the southwest corner of Loop 303 and Cactus Road. The Paradisi master plan will include both for-sale and for-rent homes. The for-rent component, named Christopher Todd Communities At Paradisi, will include 192 single-story, single-family one and two-bedroom smart homes with private backyards and resort-style amenities on 16 gated acres. This project marks the third jointly branded luxury rental community since the two companies entered a strategic partnership in 2019.
Under terms of the agreement Taylor Morrison serves as land sourcer, developer and builder, with Christopher Todd Communities providing its successful brand playbook that includes community design details, property management oversight and the promise of A New Way to Live®. The first Christopher Todd Community Built By Taylor Morrison will open towards the end of this year At Ellsworth and University in Mesa, Ariz. Initial leasing activity at Christopher Todd Communities at Paradisi is expected to begin in late 2022.
“Taylor Morrison is excited to continue its evolution in the Build-To-Rent real estate segment which pairs nicely with our core for-sale homebuilding business as an alternative to traditional apartment living,” said Taylor Morrison Build-to-Rent National President Darin Rowe. “Our partnership enables Taylor Morrison to serve more customers, flex our production-builder muscles, and quickly address nationwide demand for a new and exciting housing experience with best-in-class branding partner Christopher Todd Communities.”
In addition to Arizona, land sourcing efforts are underway in select markets within Texas, North Carolina and Florida with other expansion market announcements planned for this year.
“Having a strategic partnership with Taylor Morrison—a widely respected national homebuilder and developer—allows us to reach many more markets in the years to come, drawing on the demand for a new way to live,” said Todd Wood, CEO of Christopher Todd Communities.
Comprised of well-appointed single-story pet-friendly smart homes, the communities are less dense than typical multi-family, with no one above or below, no stairs to navigate and the private backyards that give people personal space yet affords a sense of connection. Resort-style amenities are included in every one of these gated communities.