Landmark Properties has broken ground on The Everstead at Madison, a 231-unit single-family townhome community in Madison, Ala.
TSB Capital Advisors arranged financing for the development, which marks Landmark Properties’ first build-to-rent project. The community’s first homes are scheduled for delivery in 2023. A full completion is expected in 2024. The firm’s build-to-rent division is planning to bring more single-family homes to the market in the near future.
The Everstead at Madison will encompass 231 cottage-style townhouses in a gated community, with one-, two-, three- and four- bedroom floorplans ranging between 750 and 2,000 square feet. Common-area amenities will include a fitness center, dog park, playground, swimming pool, fire pit and grilling area. In-unit amenities will consist of hardwood floors, stainless-steel appliances, washers and dryers, walk-in closets, generous pantries, private patios or balconies and attached garages in select units.
Located at 225 Mill Road, the development site is close to interstate 565 and Research Park Blvd., in proximity to multiple dining options, schools, retail and entertainment venues such as U.S. Space and Rocket Center, Bridge Street Town Centre and The Orion Amphitheatre. Green areas such as Dublin Park and Palmer Park are within 2 miles from the property. Huntsville International Airport and Madison Hospital are only a 10-minute drive away.
Landmark Properties, in a joint venture with American Partners, recently received a $68 million construction loan from Webster Bank for a 702-bed student housing community in Tallahassee, Fla.
