New York-based Lafayette Real Estate has plans for a build-to-rent housing development in Southwest Florida. Lorraine Crossings will comprise 66 residences occupying a now-vacant 10-acre parcel.
Twenty-five percent of the homes (about 17) will be reserved as workforce housing, designated for tenants earning up to 120 percent of the area median income (AMI). According to county records, Manatee County’s median income is $97,000 annually, meaning that a one-person household could earn no more than $84,480 to qualify.
Renderings of the site. Image from Observer
The Business Observer reports that Lafayette acquired the build site from its former owner, Windham Development, for $3.43 million earlier this year. Lorraine Crossings initially secured approval in 2024.
Marquis Homes, an affiliate of Lafayette Real Estate, is operating as the general contractor. It intends to start sitework by the end of this month, and it anticipates having the first homes come online in the second quarter of 2026. Brandywine Homes USA will handle the property management aspect.
Lorraine Crossings will be just one of many built-to-rent communities developed by Lafayette Real Estate, which currently has more than 2,000 units either completed or underway. The 66-unit community will occupy 3518 Lorraine Road, Lakewood Ranch, Florida, 34211, in Manatee County.
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