40% of new For-Rent housing constructed in the US will be single-family Build-to-Rent (BTR). Why that is, is worthy of another post but for now....
Eight dwelling units per acre.
8du/ac is generally the threshold when a community begins to efficiently support transit (bus service) and neighborhood serving shopping and amenities, gives you capital and maintenance infrastructure/utilities efficiencies, and potentially a new school or/and school upgrades. If you're within a 1/2-mile of rail transit, the floor on that number should really be a blended 40du/ac (emphasis FLOOR) to justify transit network capital/maintenance costs and contribute to achieving regional carbon/AQ goals.
For-Rent single-family presents both opportunities and challenges in creating sustainable urbanism and less carbon-intensive neighborhoods- but I hope mostly opportunities. A conventional single-family home neighborhood max's out at 2-3du/ac, not even that in many cases. Start to introduce townhomes and some duplex and triplex + 6-packs along with traditional SFD lots, and you can start to get to either side of that 8du/ac magic threshold.
BUT take that small and medium lot single family detached, add all those 'missing middle' housing types, add some wrap mid-rise apartment residential, add some podium mid-rise condominium, add senior housing, add a range of BMR affordability, add some community serving shopping and dining, underpin it all with walkability and active transportation, integrate well-designed transit stops- segment all the resi between For-Rent and For-Sale.
Now you have a multigenerational community that appeals to a breadth of demographic cohorts, at every life stage, and across a range of affordability, that begins to meaningfully achieve sustainability metrics.
Now you're cooking with gas!
(actually you're not, this new community is all-electric)
#sustainableurbanism #urbandesign #masterplannedcommunities #singlefamilyhomes #jbrec
CEO John Burns recently sat down with Fundrise on their latest podcast.
And although the timing isn't great for build-to-rent (BTR) right now, John thinks the long-term future is phenomenal.
"I think BTR could be about 40% the size of the apartment market because that's how big the demand is. There's always a percentage of people who can afford more for something new and would rather do it.
BTR has a lot of the advantages of apartment operations, efficiency, and financing. And then it lives like a house."
John touches on many trends, risks, and opportunities shaping the housing market in 2024. Check out the full podcast here: https://lnkd.in/e_JjavSf
#jbrec #rental
Architectonic 🏰 Inventor
2moRE: BTR as ‘ the next product-type’ ; “and then it lives like a house . “ I guess, if finance is the ‘typology’ of shelter that you are categorizing ? ____ A case could be made that the Housing Industry has not seen a ‘new housing type’ since the 1959 CONDO in Utah . That shelter innovation / product-typology was totally original , from planning code-to-consumer consignment. The condominium literally altered ‘space’ , as we then ‘lived it’ . I’m not sure BTR alters housing spatial-metrics ; ie housing ‘types’ ? It takes more than financing models to do that !