Build-to-Rent (BTR) is the construction of single-family homes with the intent to retain the homes for long-term rental purposes. Pure Cycle is working with experienced home builders to construct these homes, which Pure Cycle will own and maintain the properties, taking on a new role as property manager. “The BTR model is ideal for our highly appreciated land and water assets, allowing us to build an accretive high margin recurring revenue product while maintaining our highly liquid balance sheet using inexpensive capital for the incremental cost of building each home” comment Mark Harding President and CEO.
Phase 1 BTR
Pure Cycle has reserved 3 lots in its initial phase of Sky Ranch and construction is currently underway of these 3 single-family homes with completion expected in the fall of 2021.
Phase 1 Update
Phase 2 BTR
Pure Cycle has reserved over 100 lots in its Phase 2 of Sky Ranch for its BTR segment and will construct homes concurrent with construction of homes in each block of Phase 2