Taylor Morrison, has started pre-leasing its first Yardly-branded Build-to-Rent community in Kissimmee and is wrapping up construction on Yardly Crossing in DeLand.
These are the homebuilder’s first two purpose-built rental communities in Central Florida since it launched the Yardly concept in 2022. Taylor Morrison plans to open two additional build-to-rent communities in Orlando next year in Eustis and Mount Dora, bringing the the total number of BTR units in the market to about 1,000.
The Arizona-based homebuilder entered the BTR space in 2019 through its strategic partnership with Christopher Todd Communities, which focuses on single-story cottage home communities with Class-A amenities. The deal allowed CTC to expand its footprint from Arizona into Texas and Florida.
When that deal closed in 2022, Taylor Morrison created its own brand, which introduced different housing products to the line. Those include some two-story units with garages and quadruplex buildings. These communities typically consist of one- and two-bedroom homes ranging from approximately 700 to 1,100 sq. ft. and offer low-maintenance living and smart-home technology.
Yardly Bellalago will be the brand’s first community featuring a fourplex product, which includes a two-story home on each corner of the building. Single-story cottage homes will also be featured. The collective floor plans offer 1- and 2-bedroom options with select units including a private garage or extra flex space for a den/study.
“The consumer housing journey has rarely if ever been more fractured and circuitous. Yardly by Taylor Morrison gives individuals and families options that might not otherwise exist. Hence our Yardly tagline Housing Reimagined,” said Darin Rowe, President of Yardly. “Our hope is that Yardly renters go on to become Taylor Morrison homebuyers if and when the time is right, and we even offer specific incremental homebuying incentives for our Yardly renters who wish to purchase a Taylor Morrison home.”
Residents across all Yardly communities enjoy ground-floor living, limited to no wall-sharing to reduce noise, smart home technology, and attractive amenities that vary by community but may include a dog park, pickleball courts, pool, fitness studio and more. However, the true differentiator lies in the private backyards complete with doggy doors perfect for pets and outdoor living—serving as the inspiration for the brand name.
“When you think about humans and their pets and wanting a better life for their collective family, that includes those pets,” Rowe told GrowthSpotter. “It really does allow you to have more flexibility if you think about jobs and leaving the house and coming back and wanting to have a space for your beloved pet to roam.”
Yardly at Mount Dora Groves South will consist of mostly attached duplexes: 29 three-bedroom units and 188 two-bedroom units. The plan also calls for 92 detached one-bedroom cottages.
In Eustis, the 230-unit Yardly community is directly to the west of the intersection of State Road 44 and Waycross Avenue.
Rowe previously told GrowthSpotter that Taylor Morrison will likely put its Yardly communities on the market after stabilization.
“That’s our default scenario, but certainly, with market conditions, we always knew that we may have an opportunity to do something different,” Rowe said. “So that’s the great thing about these communities. W can lease them up to say 90% and sell them, which is pretty traditional for the multifamily space as you know, or we could collect rent checks and decide to kind of maintain those projects for a longer duration. It really plays into the highest and best use of capital for the business, but it’s nice to have that flexibility to be sure.”
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