Cavan Companies expands BTR portfolio in Kansas City 

US: Cavan Companies has announced the development of a bungalow-style 153-unit build-to-rent community in Kansas City.

The Bungalows at Maple Woods will consist of 153 single-storey bungalow-style detached residences. The one- to three-bedroom homes feature fenced backyards and garages. Residents will have access to a community clubhouse and fitness centre.

The Kansas City project is Cavan’s 24th build-to-rent Bungalows development, the majority of which are located in Arizona.

“Kansas City represents the type of market where long-term housing demand and economic stability align,” Cavan CEO Norm Miller said. “Our approach is centered on building in markets with measured supply growth, strong employment bases and sustainable absorption trends. We believe Kansas City offers that balance.”

Cavan’s most recent Midwest development comes after its expansion into Nebraska with two BTR properties in Omaha, the state’s largest market. Its Omaha locations are the first outside of Arizona.

Cavan said their strategic goal in the Midwest is building regional density to achieve efficiency and portfolio durability.

Highlights:

• Cavan Companies has commenced development of The Bungalows at Maple Woods, a 153-unit build-to-rent community in Kansas City featuring single-storey detached bungalows with fenced backyards and garages.
• The one- to three-bedroom homes include access to a community clubhouse and fitness centre, marking the firm’s 24th Bungalows development and its second Midwest expansion following two properties in Omaha, Nebraska.
• Cavan chief executive Norm Miller cited Kansas City’s aligned long-term housing demand and economic stability, measured supply growth, strong employment base and sustainable absorption trends as factors in the market selection.
• The company stated its strategic objective in the Midwest is building regional density to achieve operational efficiency and portfolio durability.