A new development is coming to Greystone—The Cottages is a build-for-rent cottage-style community by Capstone Communities. Keep reading to learn all about it.
What is build-for-rent?
Birmingham is seeing more and more build-for-rent communities popping up. According to Hunter Housing Economics, build-for-rent communities are one of the fastest-growing trends in the multifamily real estate segment.
A build-for-rent home is one that has been built for the purpose of long-term rental. Unlike standard apartments and other short-term rental communities, build-for-rent homes are made for people looking for long-term rental residences.
“Birmingham is not only our hometown but the centerpiece of a thriving region and state that embraces the spirit of innovation, progress and growth. We are proud to bring our build-for-rent cottage concept, which has proved tremendously successful in other markets, closer to home and provide a premium housing option for Birmingham residents looking to rent instead of buy.”
Jim Beatty, Vice President, Development for Capstone Communities
Construction on this new community will begin in May, with its first units scheduled to be ready by summer 2023 and the rest to be ready to go in winter 2023. The 189-unit development includes sidewalks, parks and open green spaces.
Designed with a “new urbanism” style, this community will be an attractive housing option for young professionals, empty-nesters and those moving to the growing area.
The Cottages in Greystone are located between Saint Vincent’s One Nineteen Hospital and Church of the Highlands. The location, right next to several retail destinations and business parks, is convenient for just about anything.
Greystone is full of places to go and things to do. There’s an endless amount of delicious restaurants nearby, shopping for days and a quick drive to multiple local parks. The list goes on!
We love to see so many exciting developments on the horizon for The Magic City!