from SNL Real Estate Daily
American Homes 4 Rent to develop rental community in Canton, Ga.
Byline: SHAHZAIB RAJA
American Homes 4 Rent recently purchased 55 acres at Etowah Shoals Village in Canton, Ga., to develop River Ridge, a community of 198 single-family rental homes.
The single-family rental real estate investment trust initiated land development on the site and will invest roughly $50 million in developing the community, which will include a neighborhood amenity center, pool and fitness facility.
Located near River Pointe Parkway and I-575, River Ridge represents Phase I, while Etowah Shoals developer Etowah Land Partners recently released Phase II, a 16-acre general commercial tract that will be the gateway to the new community.
