Parkland Residential announces its newest build-to-rent project Sugarloaf Springs in Lawrenceville, Georgia was recently approved for rezoning by the Gwinnett County Board of Commissioners. Featuring 116 stacked townhomes, Sugarloaf Springs is located on 10 acres at 3440 and 3460 Sugarloaf Parkway near the intersection of Sugarloaf Parkway and Five Forks Trickum Road.
“This community is perfectly poised to meet the surging demand for housing in this area of town,” Parkland Residential President Jim Jacobi said. “We currently have 200 people on a waiting list for our last Lawrenceville build-to-rent property, Sweetwater Springs, which is fully leased.”
Sugarloaf Springs will break ground in April 2022 with the first move-ins anticipated in the summer of 2023. The project features the company’s unique stacked townhome product specifically designed to repurpose under-utilized commercial parcels to supply homes for the missing middle.
Residents at Sugarloaf Springs will enjoy an abundance of shopping and restaurants within a short walk from the community. Additionally, residents will have several amenities to enjoy, such as a swimming pool, cabana, playground, nature preserve, playfield and parks.
The rear-entry stacked townhomes offer one-car garages and two or three bedrooms including large, private owner’s suites with huge walk-in closets and impressive baths featuring dual vanities. The spacious, open floor plans feature sizable kitchens that open into oversized family rooms with covered outdoor living spaces, perfect for families and entertaining guests.
The three-bedroom units offer two-and-a-half baths, plus lofts with 1,950 square feet of total living space, while two-bedroom units offer 1,630 square feet of total living space. The monthly rent for townhome units will range from $2,000 to $2,400 per month.
Managed by Lincoln Property Group, Sugarloaf Springs is located at 3440 and 3460 Sugarloaf Parkway in Lawrenceville. For more information, call 470-402-2300 or visit the Lincoln Property Company website at www.lpc.com.
Parkland Residential is focused on the underserved missing middle market. The concept of missing middle is defined by John Hunt, principal with MarketNsight, as a single-family home located alongside what looks like a single-family residence but is really a duplex, quad, eightplex or more. Missing middle housing goes hand-in-hand with affordable housing. Many consumers want to live near work but cannot afford to and having other options for housing is important.
Parkland Residential is a new homebuilding company focused on creating build-to-rent communities. Based in metro Atlanta, the build-to-rent company’s goal is to provide affordable missing middle housing in locations where consumers want to live. Parkland Residential plans to build many build-to-rent communities over the next several years.
Parkland Communities, Inc., the sister company to Parkland Residential, is a privately-owned multifaceted real estate development and investment firm specializing in residential properties. With over 20 years of experience in the industry, Parkland Communities Inc. uses the latest market data, technology and established relationships to strategically secure new development opportunities in Atlanta’s most desirable locations. The company’s hands-on philosophy has made it a proven leader in the industry with a trusted reputation among elected officials, municipal staff, neighborhood associations, bankers and home builders.
Why do consumers rent versus buy?
There are numerous reasons that consumers may decide to rent a home versus buying a home. Here are a few of the top reasons:
- No maintenance – often everything is included in a build to rent neighborhood. This can include exterior maintenance as well as yard work. In some homes the renters don’t even need to change the light bulbs.
- Fantastic amenities – many build to rent communities offer top notch amenities including walking trails, sidewalks, streetlights, picnic areas, playgrounds, fire pits, swimming pools and clubhouses.
- New construction – there is just something nice about renting a new home that no one else has lived in. Appliances and systems are new so there isn’t even the hassle of having to call for maintenance. And because the homes are new, they have trendy interior finishes too.
- Savings – in some markets it is cheaper to rent than to buy. Renters don’t need to save for a down payment. Of course, they also don’t build any equity.
- Location, Location, Location – often consumers can rent a home in an area where they can’t afford to buy.
- Great Neighbors – there is less turnover in new build to rent neighborhoods versus apartments or other multifamily options. This leads to increased neighborhood stability and best of all, you get to know the neighbors!
- Flexibility – you don’t own it, so you don’t need to sell it to move. Job transfer? no worries. New baby on the way – no worries. It is easy to exit a one year lease compared to selling a home.