Homz, with the help of Nanban Ventures, has raised $50 million in pre-seed funding to develop “wellness-centric” multifamily communities.

“It’s no secret that there is a lack of attainably priced housing in the U.S., which severely restricts optionality and socioeconomic advancement,” Homz’ Kim Diamond said. “We’re committed to changing this by delivering a uniformed brand of sustainable, wellness-centric communities at attractive price points that people actually want—and can be proud—to live in.”

The company says it sees “significant opportunity” in states such as Texas, Alabama, North Carolina, Colorado, New Mexico, and Utah. The company said it has 15 to 18 initial agreements for developments currently pending. Homz wants to develop 50 communities over the next five years. It targets tier-2 markets that are located within a roughly 20-to-30-minute drive from major high-growth Metropolitan Statistical Areas (MSAs).