Kirby Pointe

Kirby Pointe Apartments, Horizon Companies New 116-unit Multi-Family Development in Memphis, Tennessee

MEMPHIS, TN / September 20, 2021 / Today, Horizon Companies announced their newest development project, Kirby Pointe Apartments, a 116-unit multi-family development in Memphis, Tennessee featuring four different unit sizes consisting of 1 to 4 bedrooms providing options for individuals and families of varying sizes. Positive growth trends have returned to Memphis over the past several months, slowly shifting the area into a high-tech healthcare hub for the mid-South region. This has been helped along by sizeable expansions at the UT Medical Center and a burgeoning high-tech medical device manufacturing sector. Preston Byrd, Managing Partner at Horizon Companies, is overseeing this $18M project that will provide needed residences for the rapidly growing community. Byrd states, “this has been a long-time coming and we are excited to finally see this project come together.”

Kirby Pointe, will sit on roughly 7.91 acres and is designed as a townhouse-style development giving its residents the opportunity to pull right up to their front door. The property will include a State-of-the-Art Fitness Center, Business Center, BBQ/Picnic Facilities, Children’s Playground and Free Wi-Fi for its residents. Construction is currently scheduled to start late Fall of 2021 and is expected to be completed by the end of 2022.

Interested in investing in some of our developments, Get Started today!

Real Estate Investing

Benefits of Real Estate Investing

Investing in real estate has become a buzz word. Many understand the idea of what investing in real estate means but are often unsure of how to get started. There are many benefits in the world of Real Estate Investing. These range from creating short-term cash infusions from flipping properties to building long-term wealth by establishing a source for passive income. Building a Real Estate portfolio is however one sure way of ensuring you and your family will experience a life of financial freedom.

Let’s take a look at the most basic and fundamental approach of real estate investment, buying a single-family home. The great accomplishment of homeownership has several benefits for a family or an individual. The home will likely increase in value thus building equity and becoming a source of cash for you. There are also different tax advantages for homeownership that include mortgage interest deductions, property tax deductions, or even getting tax deductions for home improvements that you make. And of course, there’s the benefit of providing long-term stability for your family and for some, passing down the home or estate to their children.

Once you began to view real estate from the eyes of an investor, it becomes a game changer! Three of the most popular ways to invest in real estate is flipping houses, buying a house to use it as a rental property and investing in multi-tenant real estate. The greatest benefit of these three approaches are the ones that create passive income, long-term cash flow! Flipping houses and purchasing houses to use as rental properties require investors to properly assess their liabilities by understanding the market.  Excessive renovation cost, property management fees and continued maintenance and repairs could cause you to take serious losses.

The new way of looking at real estate investing is through the lenses of the top 1%, investing in multiple pieces of real estate all at once. Horizon Companies has created an investment platform that allows you access to an asset class that was once only made available to institutional investors or the very wealthy. Now, our investors can start with as little as $25,000 and invest in multi-family developments that can yield quick returns and long-term cash flow. For many, the idea of investing in 100 or more units at once has been out of reach. Not anymore! We spend hours researching markets so you don’t have to, giving you the benefit of knowing what we know. Our platform streamlines your investing experience by giving you access to robust reporting and research that ultimately leads to us making cash distributions directly into your bank account as you continue to monitor the performance of your investment.

Investing in a multi-million-dollar project is no longer out of reach and can offer you the opportunity to start creating generational wealthy for you and your family. Get started today and begin the journey of building your real estate portfolio with multi-tenant assets.

 

***Investing involves risk, including loss of principal. Past performance does not guarantee or indicate future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. Neither Horizon Companies nor any of its affiliates provide tax advice and do not represent in any manner that the outcomes described herein will result in any particular tax consequence. Offers to sell, or solicitations of offers to buy, any security can only be made through official offering documents that contain important information about investment objectives, risks, fees and expenses. Prospective investors should consult with a tax or legal adviser before making any investment decision.

 

construction cost

Multifamily Construction Costs

Where Do We Go From Here?

Many if not all multifamily developers would agree the most unstable issue in the industry is a shortage of construction materials. Steele, asphalt and lumber to be specific. The shortages have caused development costs to rise to unprecedented levels. It was inevitable. The closing of mills and factories early in the pandemic brought production of materials to a halt. This decreased overall supply while consumer demand rapidly increased.

Consumers were quarantined and anxious. Unsure the direction Covid-19 would go and having millions working from home concerns for comfort became a big issue. Bigger homes became important to families and renovations became a major coping mechanism. Lumber quickly disappeared from shelves, and factories have not been able to keep up with demand since. Construction firms quoted six weeks delivery times earlier in 2021 are now being quoted 18 weeks to arrive.

The closing of factories, mills and high demand have caused a volatile domino effect. The combination of these challenges created the “perfect” storm. The backlog in the production of materials have Builders seeking answers on how to offset these inflated costs. Who will absorb the additional expenses? Will the investors have to take a lower yield? Will the renters have to pay higher rental rates? The National Association of Home Builders did a study and found higher cost of lumber could increase the market value of a unit by $13,000k. Construction costs has always been a huge part of multifamily developments and inflation upwards of 140% is catastrophic to a project.

Pre-pandemic conversations on lumber in the media was far and few, plus boring.  Today the conversation is a hot topic, memes flood social media but it’s definitely a serious matter.  Knowing how to connect with contractors to order materials sooner or even secure the cost of labor will be key for developers. Especially since the labor market is still struggling to fill jobs amidst the significant unemployment but that is another article.  Today, our world is a lot different than 18 months ago and predictions of going back to how it was, is no where in sight.

 

By: Quinn Newton

The Reserves at Green Meadows

Horizon Companies Announces The Reserves at Green Meadows, a 200-Unit Multi-Family Development in Huntsville, Alabama

HUNTSVILLE, AL / June 30, 2021 / Today, Horizon Companies announced their newest development project, The Reserves at Green Meadows, a 216-unit multi-family development in Huntsville, Alabama featuring four different unit sizes consisting of 1 to 4 bedrooms providing options for individuals and families of varying sizes. Huntsville’s market has shown years of strong economic and population growth supporting the demand for this multifamily development Managing Partner of Horizon Companies. Preston Byrd is proud to oversee this $32M project that has also caught the attention of several city officials. Raj Valluri, Vice President of Development at Horizon Companies says that it’s been well documented through permit activity that multifamily construction had indeed slowed down in the years prior to 2019 however, this combined with the post-pandemic surge in demand has now created the conditions to accelerate the development of multifamily housing in Huntsville.

Valluri added, clearly, the continued growth in jobs in the space exploration and auto industries have catapulted population growth in Huntsville and its surrounding suburbs and led to projections that it will become Alabama’s biggest city in 2021.

The development will include a Recreation/Deck Area, State-of-the-Art Fitness Center, Business Center, Two Tennis Courts, Swimming Pool, Children’s Playground, Water Features, Dog Park, and On-site Walking and Trail, Hiking Trails. The 22-acre property boasts a highly sought-after location Ideal for new Huntsville residents attracted to the area thanks to the encouraging job opportunities. Additionally, Alabama University Students and Faculty will find the Reserves at Green Meadow an attractive option with convenient access to major retailers and a straight shot to Huntsville International Airport.

Construction is currently scheduled to start in the Fall of 2021 and is expected to be completed by Fall of 2022.

Interested in investing in some of our developments, Get Started today!