Having officially announced its launch, TerraLane Communities now intends to build more than 1,100 single-family rental units in the greater Phoenix area in the next two years.
Company CEO Steve La Terra recently said the company also plans to expand into as many as seven additional states.
TerraLane Communities will put a heavy emphasis on cutting-edge technology as a market differentiator, including installing fiberoptic cabling in every unit to enable future technology integrations as they arise.
Previously called RSI/NP Communities, Inc., Terra changed the name and placed the company headquarters in Scottsdale as his vision became more concrete, according to reports. The company currently has five Arizona communities in various stage of development:
- TerraLane at Canyon Trails, Goodyear, 263 units, under construction;
- TerraLane on Cotton, Surprise, 245 units, under construction;
- TerraLane at South Mountain, Phoenix, 148 units, under construction;
- TerraLane at Canyon Trails South, Goodyear, 299 units, site prep, and
- TerraLane at Park McDowell, Phoenix, 163 units, site prep. (Source)