BTR Daily - April 3, 2026 - Red Cedar stats Phase II at North Carolina BTR

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NEWS ROUNDUP

DEVELOPMENT: Red Cedar starts Phase II at North Carolina BTR. Construction has begun on Phase II of Kelly Ridge, a BTR community in Charlotte, North Carolina. Red Cedar Construction Services is serving as builder for the new phase. Jon Grabowski, CEO of Red Cedar Construction Services, said the groundbreaking marks an important milestone and highlighted Charlotte as one of the strongest growth markets in the Southeast. Phase I delivered completed homes in October 2025 and saw strong leasing activity, while the first homes in Phase II are expected in June 2026.

DEVELOPMENT: SIH and JLM Living advance 253-unit community in Georgia. Southern Impression Homes and JLM Living are developing The Eleanor - Bloomingdale, a 253-unit single-family rental community under construction in Bloomingdale, Georgia. Vertical construction began in October 2025, with first units expected in April 2026 and full completion targeted for early 2027. Chris Funk, president and CEO of Southern Impression Homes, said the project highlights SIH’s vertically integrated approach across design, development, and construction, while Chris Votaw, co-founder and partner at JLM Living, said the partnership is helping bring needed housing to the growing Savannah market while supporting disciplined investment returns.

DEVELOPMENT: Parkland Residential secures zoning approval for 150-home project. Parkland Residential has won zoning approval from the City of Newnan’s mayor and council for Celebration Park, a new rental community planned for Celebrate Life Parkway in Newnan, Georgia. The project will include 150 residences, made up of 114 rear-entry stacked townhomes and 36 front-entry ranch-style townhomes aimed at active adult renters.

DEVELOPMENT: Tricon opens first phase of 180-home BTR in California. Tricon has opened the first phase of Tricon Winchester, a BTR community in Riverside County, California, where 124 of the planned 180 single-family rental homes have delivered and about half are already leased. The project is part of Blackstone’s growing residential portfolio through Tricon and was developed in partnership with Woodbridge Pacific Group. Andrew Murphy, president of Woodbridge, said the long-vacant site created an opportunity to add new housing thoughtfully, while Andrew Carmody, senior managing director at Tricon, said the Inland Empire remains one of the few places in California where the company can still acquire land and deliver homes at relatively more affordable price points.

READ: Tourism states are quietly becoming SFR strongholds.

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