TerraLane Communities, a rental-home developer in Arizona and California, has purchased 94 lots in Campo del Sol, the master-planned community being developed by Paul Foster’s Franklin Mountain Communities and Scarborough Lane Development.
TerraLane said in a news release that the rental homes it plans to build on the lots are Phase 1 of a community that will have 300 single-family rental homes. The development is located off of US-54, near the eastern slope of the Franklin Mountains and Painted Dunes Golf Course in an area developers are calling North El Paso.
“TerraLane Communities is excited for its expansion into western Texas with the introduction of its newest community of rental homes, TerraLane at Campo del Sol,” said Steve La Terra, CEO of TerraLane Communities. “The acquisition marks our firm’s progression into the broader western U.S. market and is a major step in TerraLane’s strategic growth plan.”
According to the company, 19 of the homes will be single-story with three bedrooms in a 1,445-square-foot floorplan. Seventy-five of the homes will be two-story and range in size from 1,674 to 2,076 square feet with three or four bedrooms.
Construction on the rental homes is scheduled to begin this year, with completion planned for the second quarter of 2024. The company says it will release rental pricing “at a later date.”
The 2,313-acre Campo del Sol development will include 9,500 homes, an elementary and middle school, recreational land with trails and parks, and commercial development. Plans also include an amenity center with a pool, lazy river, splash pad, cabanas, event pavilion and playground.
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