Empire Group Expanding BFR Concept to Colorado, Texas
Empire Group of Companies is taking its Village concept for build-for-rent homes on the road. The Scottsdale-based developer recently purchased three parcels of land outside of Arizona for a combined $36.5 million. The company recently closed on its first out-of-state properties in Fort Worth, Texas and one in Hutto. The third will go up in Colorado Springs, Colorado.
Empire Group is working closely with the City of Colorado Springs to finalize development plans for the Village at Cottonwood Creek, situated on a 25.7 acre parcel that sold for $9.5 million. The Village at Cottonwood Creek will consist of 247 single-family rental homes.
Empire Group’s Geoffrey Jacobs has more, “It’s about providing options for people that may not be ready to buy and may be looking for the security, ease and amenities our gated rental homes communities deliver.”The Empire Group is expected to begin construction on all three projects in Q1 of 2023.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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