SOURCE: NexMetro Communities

NexMetro Communities

June 11, 2015 12:35 ET

NexMetro Targets Dallas Area for Latest Single Family Leased-Homes Neighborhood

Avilla Homes Planned for Plano as Developer Continues Expansion in Sunbelt

PHOENIX, AZ--(Marketwired - Jun 11, 2015) - Phoenix-headquartered NexMetro Communities, America's builder of next-generation leased-home neighborhoods, announces the purchase of 10 acres just off of Central Expressway and Parker Road in Plano Texas, where it plans to develop a neighborhood of 122 luxury leased homes. The development will feature one, two, and three bedroom floorplans. The deal, which closed on May 20, continues NexMetro's Texas expansion and is designed to attract lifestyle-conscious consumers who choose to lease rather than own a home.

The acquired property, Avilla Premier, is easily reached via Premier Drive from the I-75 Expressway, providing residents convenient access using one of the Dallas area's main transportation arteries. The property is within walking distance to several retail and restaurant outlets adding to the convenience that many consumers now desire in their lifestyle choices. In addition, Avilla Premier is less than a mile from parks, fishing lakes, bike/hiking trails and sports fields.

"As we build our neighborhoods throughout the Sunbelt, we are selecting sites that meet the criteria that consumers have identified as being the most important in choosing their home," said Josh Hartmann, Executive Vice President, NexMetro. "Convenience is at the top of that list. Avilla Premier is ideally located to provide convenient access to an abundance of nearby open space, retail, and recreation options. Proximity to the Central Expressway will ensure our residents can easily travel to wherever they need to go; Dallas is just over 20 minutes away from Plano, and within 30 minutes our residents can be at one of the nation's most popular airports -- DFW International."

Ground breaking is expected to occur late 2015 with homes ready to lease in the summer of 2016.

"We are excited about the Avilla project coming to Plano. This new community will include over 100 new housing units located in a great part of town, and will enable more people to enjoy our wonderful city," said Plano Mayor Harry LaRosiliere.

NexMetro and its affiliated companies have been developing Avilla Home neighborhoods since 2011 when the first neighborhood opened in Tucson, Arizona. Currently, construction is nearing completion in Goodyear, Arizona, at Avilla Palm Valley with 125 homes available now for pre-leasing. Construction started recently for the Avilla Grace neighborhood in Chandler, Arizona, marking the community's second Avilla property available for the city's residents. Additional development in Arizona is scheduled throughout 2015 with four more neighborhoods planned in Arizona. In Texas, an additional three neighborhoods are planned in Plano, Sachse and McKinney.

"We believe that introducing our concept of high quality leased neighborhoods to Plano will meet the demands of consumers in the north Texas market. With a myriad of national corporations moving to the area, the housing market is in a pinch and struggling to provide adequate inventory that meets the housing demands of today's consumers," said Jon Van De Voorde, Vice President, NexMetro Communities. "By offering residents a truly maintenance-free lifestyle, privacy, high-end finishes and appliances, and unique architectural features -- all in close proximity to area amenities, shopping and retail -- we are confident that Avilla Premier can help meet the needs of this growing market and beyond."

About Avilla Homes

NexMetro's Avilla Homes neighborhoods signify a new breed of residential offerings that are considered a "hybrid," because they incorporate the best of single-family and multi-family residential projects. Avilla Homes are single-story and detached with private back yards, similar to single-family homes, but the homes and landscape are maintained by the property management company as is typical for multi-family properties. Leased instead of owned, Avilla Homes allow residents to live like homeowners without the burdens of home ownership.

Known as an innovator in creating non-traditional leased-living neighborhoods, NexMetro's responsiveness to today's housing market demands was prompted by demographic studies that indicated that consumers -- from Millennials to Baby Boomers -- are increasingly searching for upscale living choices that don't require a mortgage since flexibility and convenience now top the list of consumer demands. With over 1,500 homes already completed or currently under construction, NexMetro has embarked on an aggressive plan to build eight Avilla Home's neighborhoods in 2015 throughout the Sunbelt. For detailed information about Avilla Homes, go to www.avillahomes.com or call 844-818-4505.

About NexMetro

NexMetro and its affiliated companies have been developing Avilla Home neighborhoods since 2010 to satisfy an underserved segment of the housing market that demands a higher quality leased living experience. NexMetro meets that need with a new hybrid housing option that combines the elements of residential single family living with apartment-like rental terms and management to provide consumers the best of all worlds. NexMetro is focusing development in select Sunbelt markets.

NexMetro's executive team is comprised of experienced business, real estate and finance leaders -- all of whom share a long-term vision for meeting the growing demands of a new consumer. For detailed information on NexMetro, visit www.nexmetro.com.

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