Original Article by: BUILDER Online
Following the conclusion of its licensing agreement with Christopher Todd Communities, Taylor Morrison has launched its new build-to-rent brand Yardly.
Specializing in cottage-style, for-rent homes with private backyard space, these communities aim to blend the best of single-family and apartment concepts to create a housing product specifically for renters.
"There is so much to be excited about in the emerging build-to-rent space, but above it all is the opportunity to serve more consumers—at each stage of life—by building a home that's just right for their lifestyle," says chairman and CEO Sheryl Palmer. "With Yardly, we add renters to our lineup of consumers and offer them a unique alternative to traditional, vertically constructed apartments."
The communities typically consist of single-story, one- and two-bedroom homes ranging from approximately 700 to 1,100 square feet. The true differentiator from traditional apartments is the private backyards, which served as inspiration for the new brand's name.
"While Taylor Morrison has been developing build-to-rent communities for a few years, we are committed to thoughtfully growing our long-term strategy within the space," says Taylor Morrison's build-to-rent president Darin Rowe. "Taylor Morrison is focused on scaling our build-to-rent business with a disciplined approach while expanding our customer base to include those seeking the flexibility of a rental without sacrificing the lifestyle of a single-family home."