LOVELAND and BROOMFIELD — McWhinney Real Estate Services Inc. will join forces with AHV Communities to co-develop built-for-rent homes in McWhinney’s Kinston neighborhood in Loveland and also in the Baseline development in Broomfield.
The companies expect to break ground on 240 homes in Kinston and 242 in Baseline, according to a press statement.
“In Colorado’s extremely competitive home-buying market, built-for-rent homes are a great option for those who aren’t ready to buy or need something larger than an apartment home,” Ray Pittman, president and CEO of McWhinney, said in the statement. “We’re excited to partner and develop these new home offerings with AHV Communities. They have a strong track record of creating quality rental homes across numerous states, and together we will provide new options for future residents interested in our highly sought-after Baseline and Centerra master-planned communities.”
The company said that Baseline plans to offer the Finley rental townhome in Parkside West located east of Sheridan Boulevard. The Finley floor plan averages just under 1,400 square feet and is anticipated to open in early 2023. A second built-to-rent home option, the Grayson floor plan, averaging 1,800 square feet, is anticipated to be available late 2023.
Kinston has plans to launch the VellaTerra paired-home floor plan offering approximately 1,345 square feet of space; it is anticipated to be available early 2023.
“Our team is excited to co-develop these new communities along the Front Range with McWhinney,” said Mark Wolf, founder and CEO of AHV Communities. “Not only will these two new communities help address heightened demand for quality rentals in the region, but they also mark our company’s entrance and expansion into the Colorado market, as well as highlight the heightened activity within our current $1.2 billion pipeline, which encompasses 15 communities and 3,000 units across numerous states.”
The rental homes will be managed and maintained onsite, the companies said.