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COMMERCE CITY, Colo. — Home prices in Colorado are still some of the highest in the country, but a new development in Commerce City is offering people an alternative. Avilla at Buffalo Run is made up of stand-alone rental properties. The property sits just east of I-76 near Brighton in Commerce City. It gives renters the feel of living in a single-family home in a multi-family community.
"At the end of the day it's a four-wall rental product," said Reed Ruck with Nexmetro Communities. "It creates community but still feels like a single-family home."
Avilla just recently started taking rental applications. Veronica Mattorano was one of the first renters.
"I think that it is an innovative concept," she said. "I think that it is a great place to live that brings all the luxuries that one would want."
Avilla offers one-, two- and three-bedroom models.
"The backyards, being able to have a pet — I just feel in my heart it’s a great opportunity that's as close to home ownership as you can get," Mattorano said.
There is certainly a market for something like this — a gap filler between single and multi-family living.
"I think the 'why now?' is that we’re seeing a much higher percentage of renter by choice," Ruck said. "We re seeing individuals who may or may not choose to enter the single-family purchase market and therefore the rental provides a unique alternative."
Ruck said pricing is similar to apartments in the area.
"It’s competitive with the market on the multi-family rent side as well as being attainable versus a single-family mortgage," Ruck said.
Nexmetro Communities has another community in Brighton called Avilla Prairie Center.
There are other properties in Phoenix, Tucson and Dallas.