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2800 Westside Dr NW - The Townes at Westside 10 Acres of Residential Land in Cleveland, TN 37312
Investment Highlights
- Institutional-Quality, Purpose-Built BTR Product from a National Builder
- Chattanooga-Adjacent Location with a Compelling Value Proposition
- Diversified, Investment-Grade Employment Base Insulates Demand From Single-Market Risk
- Supply-Constrained Submarket Driving Outsized Rent Growth
- No State Income Tax And Sustained In-Migration Anchor Demand And Exit Liquidity
Executive Summary
The Townes at Westside presents institutional and private capital investors a forward-purchase opportunity to acquire a to-be-built, Class A build-to-rent townhome community in Cleveland, Tennessee—a structurally supply-constrained, high-growth submarket positioned roughly 30 minutes from downtown Chattanooga. Developed by Lennar, one of the nation's most experienced and decorated homebuilders, the community delivers large-format 3BR/2.5BA townhomes averaging ~1,409 SF, each with an attached two-car garage—a product profile purpose-built for the durable, credit-worthy family-renter cohort underserved by conventional multifamily. The forward structure allows capital to lock pricing and cost basis ahead of delivery, with construction and delivery risk borne by Lennar and minimal near-term capital exposure, positioning the buyer to underwrite an attractive yield-on-cost on a clean, new-vintage asset. Underlying fundamentals are equally compelling: Cleveland averages just ~11 new rental units annually while the broader Chattanooga pipeline contracts sharply, insulating in-place rents and protecting basis. Demand is anchored by one of Tennessee's most industrialized and diversified economies—home to thirteen Fortune 500 manufacturers and a 320,000+ labor force within 25 miles—and reinforced by no state income tax, sustained in-migration, and a cost basis materially below neighboring Chattanooga. The result is a defensively positioned, barrier-protected asset combining new-construction quality with the rent-growth tailwinds of a high-conviction Southeast growth market.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Sale Type | Investment | Property Subtype | Residential |
| No. Lots | 1 | Proposed Use | Multifamily |
| Property Type | Land | Total Lot Size | 8.62 AC |
| Zoning | CH | ||
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Multifamily |
| Total Lot Size | 8.62 AC |
| Zoning | CH |
1 Lot Available
Lot
| Lot Size | 10.00 AC |
| Lot Size | 10.00 AC |
104-Unit BTR Community in Chattanooga MSA
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Contacts
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Jordan Arand -
Adam Klenk -
Austin Heithcock -
Blake Wiser -
Quentin Nichols -
Northmarq
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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2800 Westside Dr NW - The Townes at Westside
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