Through a joint venture with Level Homes, Stirling announces the development of Arabella at Dutchtown Townhomes in Geismar, Louisiana. This project marks Stirling’s continued strategy of, build-to-rent development.
Stirling and Level Homes recently closed on the acquisition of 7.51 acres of property and plan to develop 48 units along with a leasing office and clubhouse. The new development will consist of 3-bedroom, 2.5-bathroom high-quality, single-family townhomes expressly built for the rental market. The Architectural Studio leads the project design team, and the builder is Level Homes. Construction will begin on the first townhomes later this month, and the development is expected to be complete by the end of 2024.
Through the joint venture, Stirling will be responsible for development, horizontal land improvements, and amenities, in addition to asset management and accounting oversight of the project. Level Homes will be responsible for all vertical building improvements. BH Management will handle daily onsite management and leasing.
“The population of Ascension Parish has grown significantly over the past ten years and is projected to continue, and we believe this is an ideal product type for this market on a site that is extremely well located within the market,” said Townsend Underhill, President of Development with Stirling. “Stirling is excited to continue its commitment to deliver high quality Build to Rent communities. “
“Level Homes is excited to be a part of the Arabella development adjacent to our Belle Savanne, for-sale community. Our company has an extensive track record of developing high-quality, master-planned communities throughout Southeast Louisiana. We look forward to creating value-driven homes and a unique residential experience for the Prairieville area,” said Todd Waguespack, Managing Partner with Level Homes.
This product type is one of the fastest-growing sectors of the U.S. housing market as build-to-rent properties continue to be attractive to seniors, singles, and families alike—as it offers renters the conveniences of homeownership without the financial and maintenance burdens that come with it.