Taylor-Morrison Adds Charlotte to BTR Business

It hasn’t even been a year since national homebuilder Taylor-Morrison announced it was getting into the build-to-rent (BTR) sector of the rental market. Called Yardly, the BTR business now accounts for over 20 projects. Its latest is a 353-unit rental community in Charlotte called Yardly Alexandriana.

The project will be situated at Alexandriana Road and Northlake Centre Parkway. The site is near Northlake Mall and the intersection of interstates 77 and 485.

The Charlotte Business Journal reports Taylor Morrison acquired just over 48 acres at the project site earlier this month. The homebuilder paid $18.2 million for the land.

Taylor Morrison plans to start construction in mid-2024, with initial resident move-ins expected about a year later.