Phoenix-based NexMetro Communities, a pioneer of luxury leased-home neighborhoods, is investing more than $140 million in the Denver metro-area as it prepares to open its first Avilla neighborhood in Commerce City, CO, in early 2019. The new home neighborhood represents the first of its kind in the Denver market: a hybrid rental home community designed to attract lifestyle-conscious consumers who would rather lease than own a home.
NexMetro’s Denver Division has closed on three sites (totaling 500 units) for luxury leased home neighborhoods in Commerce City, Brighton and Thornton. The growth and investment opportunity in the single-family rental market has surged, driven by skyrocketing home prices, lack of inventory, and more potential homebuyers opting to rent rather than buy.
“NexMetro has long identified the Denver metroplex as an ideal market for Avilla Homes neighborhoods given its exceptional employment expansion, continued population growth, supply issues and the resulting demand for high-quality rental homes,” said Reed Ruck, NexMetro Denver managing director. “This hybrid housing option combines the best of both worlds for people who are renters by choice.”
NexMetro’s Avilla Buffalo Run neighborhood is slated to open in early 2019 in Commerce City, offering 123 single level rental homes on 12.5 acres. The company is also under construction on 136 homes in Brighton (Avilla Prairie Center), scheduled to open in mid 2019; and in Thornton on Avilla Eastlake, which is slated to open 244 homes in mid 2020.
The company’s expansion into the Denver area brings the total number of Avilla Homes built and under development to more than 3,800, with other communities currently located in Phoenix and Dallas.
Unlike typical multifamily housing communities, Avilla offers 1, 2 and 3-bedroom modern and stylish single-level rental homes, with open and spacious floor plans, private entrances, outdoor patios and backyards. All of the floor plans boast 10-foot ceilings, allowing an abundance of natural light, and feature high-end finishes including quartz countertops, stainless steel appliances, full-size washer and dryer and charging stations for electric vehicles. Additionally, Avilla Homes are pet friendly and offer reserved covered parking and optional garages, plus the perks of neighborhood living, complete with a resort-style pool and beautifully landscaped recreation areas. Each community is professionally managed and all maintenance is included at no additional cost to the residents.
“Denver continues to see increased levels of corporate relocation, robust employment growth, and the resulting demand for high-quality homes,” Ruck said, adding that the company targets quality suburban areas for its Avilla neighborhoods. “By offering a truly unique rental experience, we meet the needs of residents who want the luxury and comfort of a single-family home, without the hassles of maintenance and burden of a mortgage.”
Priced competitively with surrounding A-class apartments, rents will be determined in early 2019. An interest list for Avilla Buffalo Run has already started. Floor plans and additional details are available by visiting Avilla Homes at avillahomes.com or by calling 1-833-428-4552.