launched its BFR program<\/a> in 2022. The firm is actively pursuing entitled land to develop townhome and single-family residential projects in suburban markets that are envisioned to provide synergies with TruAmerica\u2019s existing national multifamily platform.<\/p>\n\n\n\n\u201cPursuing BFR community developments like Hartley View is a natural extension of TruAmerica\u2019s workforce housing platform because it complements the same demographics that make up our Class B multifamily strategy,\u201d says Robert E. Hart, founder, CEO, and president of TruAmerica. \u201cOur BFR communities provide yet another housing option for working-class Americans who can\u2019t afford to own a home or would just prefer to rent.\u201d<\/p>\n\n\n\n
For Hartley View, residential layouts will be configured across seven floor plans, and units will feature garages and backyards. Unit sizes range from nearly 1,260 square feet in a two-story, two-bedroom, two-and-a-half bath, and one-car garage configuration up to the largest units featuring more than 2,200 square feet in a two-story, four-bedroom, two-and-a-half bath, and two-car garage home.<\/p>\n\n\n\n
The community is planned to include a dedicated main entrance and a leasing office with a clubhouse. Amenities include a pool, dog parks, playgrounds, community parks, and more than 4 acres of open wooded and recreation spaces that are connected to a trail system.<\/p>\n\n\n\n
\u201cWe are fortunate to be in a strong position as we move forward on Hartley View, since we\u2019ve already completed our acquisition due diligence and secured land financing,\u201d adds Rotta. \u201cThose factors contribute to our confidence that we are aligned with investor interests around pursuing deals in a challenging market with higher thresholds, while appealing to land and home builder networks seeking third-party BFR partners in California<\/a> and the smile states.\u201d<\/p>\n\n\n\nHorizontal construction is slated to begin next summer, and vertical construction is anticipated to commence in December 2024. Delivery of the first units is scheduled for summer 2025.<\/p>\n
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