Homebuilder Taylor Morrison is all in when it comes to built-to-rent (BTR) communities. The company has recently purchased land for two BTR projects in Lake County. The first is a 213-unit, one-bedroom cottage concept off State Road 44 in Eustis, near Mount Dora. Due to the land being fully entitled, look for Taylor Morrison to get going soon. The Orlando Business Journal reports the developer is working on permits for a separate, 309-unit community in Mount Dora and anticipates closing on the land for it in the first quarter of 2024. The company calls its BTR unit Yardly.
The Yardly community in Eustis is expected to begin leasing before the end of 2024. The Mount Dora community likely will begin leasing in 2025.
In Florida, Taylor Morrison is developing more than five build-to-rent communities under its Yardly brand in the greater Orlando and Tampa regions and is expected to consider future project sites in Florida and other markets nationwide. It has more than 25 owned Yardly projects.