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Crescent Communities will launch a build-for-rent platform led by a former senior executive at Atlanta-based FirstKey Homes. 

The move marks Crescent’s initial expansion into the single-family, build-to-rent business, which has been booming this year as investors follow new migration patterns wrought by the COVID-19 crisis and homeownership continues to elude many would-be buyers across growth markets in the US. Crescent’s BFR initial strategy centers around four major citiesAtlanta, Charlotte, Charleston, and Raleighand each community will consist of up to 200 residences, with a combination of three- and four-bedroom townhomes and/or detached single family houses.

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