CBI Construction Services

Capstone Kicks Off Birmingham Build-to-Rent Community

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Capstone Communities plans to start work in May on a build-for-rent cottage-style community planned for 30 acres in the Greystone area off Highway 280 in Birmingham.

The 189-unit development will include lofts, one- and two-story cottages and two-story townhomes with yards, pocket parks sidewalks and green spaces.

The first units should be ready in summer 2023 and the development should be complete by the end of 2023, the company says.

Although Capstone, which began business building student housing, now has seven build-to-rent projects in progress, including one in Huntsville, this will be the first in Birmingham, where the company headquarters are located.

“Birmingham is not only our hometown but the centerpiece of a thriving region and state that embraces the spirit of innovation, progress and growth,” said Jim Beatty, vice president — development for Capstone Communities. “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.”

Birmingham’s Nequette Architecture & Design has developed plans for the project.

“Our goal is always to create a distinctive design and collaborative community in everything we do,” said Louis Nequette, founder and chief architect of Nequette Architecture & Design. “After partnering with Capstone for nearly 20 years and designing more than 30 cottage communities across the country, it’s a pleasure to showcase one of our latest designs here in our own backyard.”

Capstone’s building arm, CBI Construction Services, is general contractor for the project, and Berkadia JV Equity & Structured Capital arranged the equity partner.

(Source: Business Alabama)

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Texas

Property NameLocationUnitsYear(s) Delivered
Capstone Cottages of LubbockLubbock, TX214Summer 2017
The Junction Cottages & TownhomesCollege Station, TX186Summer 2016
Capstone Cottages of San MarcosSan Marcos, TX194Summer 2014
The Cottages of College Station, Phase I & IICollege Station, TX369Summer 2012
The Cottages of LubbockLubbock, TX241Summer 2009

South Carolina

Property NameLocationUnitsYear(s) Delivered
The Cottages at InglesideNorth Charleston, SC260Winter 2024
The Cottages at Myrtle BeachMyrtle Beach, SC294Fall 2023
The Villas at NextonSummerville, SC276Winter 2022
The Retreat of ClemsonClemson, SC552007

Oklahoma

*DENOTES PROPERTIES CURRENTLY UNDER MANAGEMENT
Property NameLocationUnitsYear(s) Delivered
The Cottages of NormanNorman, OK174Summer 2009

New Mexico

Property NameLocationUnitsYear(s) Delivered
The Cottages of The MexicoAlbuquerque, NM162Summer 2014

New Hampshire

Property NameLocationUnitsYear(s) Delivered
The Cottages of DurhamDurham, NH141Summer 2012

North Carolina

Property NameLocationUnitsYear(s) Delivered
The Cottages at RiverlightsWilmington, NC279Winter 2023
Inspire at Royal ParkMatthews, NC204Summer 2022
The Cottages of BooneBoone, NC202Spring 2014

Montana

Property NameLocationUnitsYear(s) Delivered
The Arrow Townhomes & FlatsBozeman, MT268Summer 2019

Mississippi

Property NameLocationUnitsYear(s) Delivered
The Cottages of HattiesburgHattiesburg, MS103Summer 2008

Missouri

Property NameLocationUnitsYear(s) Delivered
The Cottages of ColumbiaColumbiana, MO145Summer 2008

Lousiana

Property NameLocationUnitsYear(s) Delivered
Arlington Cottages & TownhomesBaton Rouge, LA179Summer 2016
The Cottages of Baton RougeBaton Rouge, LA382Summer 2011

Florida

Property NameLocationUnitsYear(s) Delivered
The Cottages at Cypress CayTampa, FL198Spring 2024
The Cottages at TraditionPort St. Lucie, FL286Winter 2023
Primrose ResidencesSanta Rosa Beach, FL288Winter 2022
The Cottages at Daytona BeachDaytona Beach, FL283Fall 2022
Brisa ResidencesSt. Johns County, FL256Summer 2020
Beacon ResidencesNew Smyrna Beach, FL253Summer 2020
Cottage Grove at GainesvilleGainesville, FL84Summer 2008

Colorado

Property NameLocationUnitsYear(s) Delivered
The Cottages of Fort CollinsFort Collins, CO202Summer 2018

Arizona

Property NameLocationUnitsYear(s) Delivered
The Cottages of TempeTempe, AZ121Summer 2015

Alabama

Property NameLocationUnitsYear(s) Delivered
The Cottages at GreystoneHuntsville, AL189Spring 2024
The Villas at Old MonroviaHuntsville, AL276Spring 2024
Artisan FlatsBirmingham, AL120Spring 2024
The Cottages at Old MonroviaHuntsville, AL272Winter 2021
Creekside of AuburnAuburn, AL360Fall 2007

Georgia

Property NameLocationUnitsYear(s) Delivered
The Cottages at Warner RobinsWarner Robins, GA251Summer 2023
Premiere Lofts at TrilithFayetteville, GA263Summer 2020
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