Huntsville-based homebuilder Davidson Holding Co. has launched a new division focused on the growing demand for upscale rental housing.
EverGreen Living will construct single-family rental communities in the Southeast, specifically in markets in Alabama, Georgia, North Carolina and Tennessee.
One of its first developments will be in Huntsville, where the company has already purchased property for the development.
“EverGreen Living marks an exciting new phase in the expansion of our company,” said Adam Davidson, founder, president and CEO of Davidson Holding Co. “We are eager to serve the growing number of people who want to live in new, expertly built rental homes in neighborhoods where the quality of life is exceptional. The build-for-rental industry will see significant growth in the future as young families and baby boomers look for housing alternatives that offer the best of class A apartments and the amenities of living in single-family homes in resort-style communities.”
EverGreen Living will build in markets where Davidson Homes, a subsidiary of Davidson Holding Co., already has a presence, including the greater Huntsville area, middle Tennessee, the Raleigh-Durham area in North Carolina and the Atlanta metropolitan area in Georgia.
EverGreen Living plans to build 4,000 homes during the next five years. Each of the single-family communities will have between 150 and 250 homes and feature amenities such as hard-surface and tile floors, stainless steel appliances and access to a clubhouse, swimming pool and walking trails. The rental prices are expected to range between $1,200 and $2,000 per month. A single bedroom home will be between 800-1,000 square feet; a two-bedroom home will be 1,000-1,200 square feet and a three-bedroom home will range between 1,300-1,400 square feet.
Leading EverGreen Living is Creighton Call, a veteran with nearly 13 years of experience acquiring, capitalizing and developing large- and small-scale commercial and residential properties.
Davidson Holding Co., headquartered in Huntsville, employs 100 people directly and provides employment to thousands of suppliers, tradesmen and professional service personnel. Its companies are Davidson Homes, Built Capital, Heritage Mortgage LLC, Safe Harbor Title and EverGreen Living.
Davidson Homes is a home building company that works with its affiliated mortgage company, Heritage Mortgage, and Safe Harbor Title to ensure smooth transactions for its home buyers. Built Capital provides land banking, financing and equity solutions for home builders by home builders.