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BTR Daily - July 23, 2026 - Red Cedar begins construction on 133-home BTR

BTR Daily - July 23, 2026 - Red Cedar begins construction on 133-home BTR

Stellar Communities and Lenox West Capital break ground. Gladstone secures financing and break ground. LaTerra nears completion of 344-unit BTR. Cracking the homeownership question. Two new BTR deals.

Matt H & Aid Sopjani
July 23, 2026

Good morning. Welcome to BTR List! In each issue, we cover the top stories, trends, and listings in build-to-rent and single-family rentals.

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NEWS ROUNDUP

DEVELOPMENT: Red Cedar begins construction on 133-home BTR. Red Cedar Construction Services has begun construction on The Towns at Braselton, a 133-home BTR townhome community in Braselton, Georgia, with completion expected in December 2026. Serving as the general contractor, Red Cedar is developing the community across 20 buildings featuring two-story townhomes ranging from 1,600 to 1,900 square feet. Steve Stawick of Red Cedar Construction Services said the project reflects the company's commitment to delivering high-quality rental housing in high-growth markets.

DEVELOPMENT: Stellar Communities and Lenox West Capital break ground on 201-unit BTR in Florida. Stellar Communities, in partnership with Lenox West Capital, has broken ground on Stellar Townhomes at Space Coast, a 201-unit BTR townhome community in Rockledge, Florida. "Driven by strong job growth in the aerospace, defense, and advanced manufacturing sectors, the Space Coast continues to attract new residents and businesses. We're excited to partner with Lenox West to bring much-needed housing to the region," said Larry Baum, Managing Partner at Stellar Communities. "Stellar Townhomes at Space Coast represents an opportunity to deliver high-quality, attainable housing in one of Florida's fastest-growing markets," said Michael Cohen, President at Lenox West Capital.

DEVELOPMENT: Gladstone secures financing and breaks ground on 163-home Alabama BTR. Gladstone Equity Partners has secured construction financing with Keystone National Group and broken ground on Cottages at Fox Run, a 163-unit Class A BTR community in Opelika, Alabama. Sitework is currently underway, with the first homes expected to deliver in June 2027. Gladstone Equity Partners said the project is intended to address growing demand for high-quality rental housing in the Auburn-Opelika MSA, one of Alabama's fastest-growing markets.

DEVELOPMENT: LaTerra nears completion of 344-home BTR. LaTerra Development, in partnership with Revitate, is nearing completion of The Charlie ABQ, a 344-home BTR community in Albuquerque, New Mexico, with 156 homes now available for lease and full completion expected in early 2027. The $100 million-plus development includes 202 townhomes and 142 detached single-family homes. Chris Tourtellotte, Managing Director of LaTerra Development, said the remaining 188 homes will be delivered over the next six months, while Charles Tourtellotte, CEO of LaTerra Development, said the project addresses growing demand for professionally managed single-family rental housing in Albuquerque. Alex Bhathal, Executive Chairman of Revitate, said the community was designed to foster resident connections through shared amenities, which include two resort-style pools and spas, fitness centers, co-working lounges, and outdoor gathering areas within the gated community.

READ: Cracking the homeownership question.

BTR SUMMIT - PANELISTS ANNOUNCED

Join hundreds of BTR owners, developers, investors, and brokers for a premier build-to-rent event in Atlanta on November 10th. Hear from the CEOs of Parkland Residential, ARK Homes For Rent, Trilogy Investment Company, Center Park Group, Jim Chapman Construction, Laseter Development Group, and more!

Secure your tickets here: BTR Summit Tickets

*Only a handful of Early Bird tickets remain at a $100 discount