Definitions and distinctions for the residential formats that most often come up in development conversations.
What is build-to-rent?
Build-to-rent, often shortened to BTR, describes residential projects constructed specifically to be operated as rentals rather than sold to individual owners. It covers purpose-built rental apartment buildings as well as single-family and townhome communities held by one owner and professionally managed. Because the developer retains the asset, decisions about durability, systems and amenities are weighed against long-term operating cost rather than sale price.
How does build-to-rent differ from build-to-sell?
In build-to-sell, the developer realises its return at closing, when homes transfer to individual buyers. In build-to-rent, the return comes from rental income and the value of the stabilised asset, so the project is underwritten on operating performance instead of sales pace. That difference shapes unit mix, material selection and amenity programming, and it keeps the property under a single owner with consistent management after completion.
What is multi-family residential development?
Multi-family residential means housing that contains several separate dwellings within one building or on one property, including apartments, condominiums and townhomes. What sets it apart from detached single-family housing is shared structure, shared land and shared building systems. Multi-family projects are governed by different codes, financing structures and ownership models, whether rental, condominium or strata, than detached homes are.
What trends are shaping single-family home construction in North America?
Affordability pressure has pushed designs toward smaller footprints, narrower lots, more standardised plans and attached formats such as duplexes and townhomes on land that once held detached homes. At the same time, tightening energy codes are moving new construction toward better-sealed envelopes, heat pumps and broader electrification. Labour availability and material cost volatility have also increased interest in panelised and off-site construction methods that move work into a controlled factory environment.
What is a resort or vacation property development?
A resort or vacation property development is residential real estate built in a destination market and designed around seasonal or part-time occupancy. Ownership can be outright, fractional, or structured through a rental-managed program in which owners place the home in a rental pool when they are not using it. Buyers should look closely at year-round management, carrying costs, and the local rules governing short-term rental, since those factors vary widely between destinations.
What types of property does Fifth Avenue Properties develop?
Our portfolio spans homes, condominiums and rental properties across the regions where we operate in North America. Individual communities differ in housing type, scale and stage of development. The properties section of this site lists the current portfolio and can be filtered by development stage.