TerraLane Communities, a premier developer and operator of high-quality rental neighborhoods and the build-for-rent platform of residential investment firm IHP Capital Partners, has acquired 22 acres in Queen Creek, Arizona for the development of TerraLane at Hudson Station. The new rental community will include 218 homes featuring single-level and two-story townhomes, along with a curated collection of lifestyle amenities.

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The project marks TerraLane’s debut in the townhome segment, a strategic progression of its portfolio that reflects evolving renter preferences in the growing Phoenix Metro market.

“TerraLane at Hudson Station is a significant milestone for our company as we expand our portfolio with a new home type that responds directly to the shifting market and completes our product offerings,” said Steve La Terra, CEO of TerraLane Communities. “Queen Creek is experiencing exceptional growth, fueled by strong demand for high-quality housing in a well-connected and family-oriented environment. We are proud to bring a new thoughtfully designed rental community to the area that blends innovation, lifestyle, and accessibility for future residents.”

The new community will include:

  • 24 single-story two-bedroom duplex units (approximately 1,450 square feet)
  • 97 three-bedroom townhomes (approximately 1,650 square feet)
  • 97 four-bedroom townhomes (approximately 1,850 square feet)

Each home will feature a two-car direct access garage, stainless steel appliances, and integrated smart home technology such as keyless entry, remote thermostat controls, and fiberoptic cabling to support future connectivity needs.

Community amenities will include a gated entrance, heated swimming pool and jacuzzi, fitness center, grass park, shaded tot lot, BBQ stations, valet trash service, and on-site maintenance. Wi-Fi will be available throughout common areas, and all homes will be pet-friendly with built-in doggy doors.

“TerraLane at Hudson Station represents a strategic expansion for TerraLane and IHP Capital Partners. It reflects IHP’s broader investment thesis and commitment to meeting evolving housing needs,” said Richard Whiteley, Co-President of IHP Capital Partners. “Queen Creek has become a sought-after destination for families and professionals seeking modern living options beyond the urban core. TerraLane at Hudson Station will deliver a distinct and high-quality rental experience that supports the region’s continued smart growth.”

TerraLane is partnering with general contractor, Hancock Builders, in the construction of TerraLane at Hudson Station. This will be the sixth residential development the two firms are completing together. Mark-Taylor Residential will oversee leasing and property management. Financing for the project is being provided by 400 Capital Management and Western Alliance Bank. Construction has commenced and leasing is anticipated to begin in 2027.

“Our financing of the Hudson Station project is emblematic of our continued conviction in providing flexible capital structuring for entry level housing in supply-constrained markets across the U.S.,” said Alex Andrzejewski, Portfolio Manager at 400 Capital Management.  “The institutional quality of our partners at IHP and TerraLane as well as the product that Hudson Station will produce align with our strategic focus and the significant opportunities that we see in the build-to-rent and the single-family rental housing market, generally.”

Located at the southeast corner of 220th Street and Queen Creek Road, TerraLane at Hudson Station is positioned in one of the Valley’s fastest growing and most desirable submarkets. The project is adjacent to Frontier Family Park and Benjamin Franklin Charter School and within walking distance to a newly opened Fry’s grocery-anchored shopping center. Residents will enjoy access to a wide range of neighborhood amenities, including restaurants, retail, and recreational spaces such as pickleball and baseball fields, a fishing lake, and an aquatic center.