A subsidiary of Mission Peak Capital is finishing the initial homes of the first subdivision in the metro area consisting of all-new single-family rental homes. Renting a home in the Overland Park subdivision offers a more affordable alternative amid a still tight housing market and higher interest rates, the developer says. … The houses will have a mix of three and four bedrooms. Rent averages about $2,400 a month. The development offers an affordable alternative to buying a similar-sized home in today’s market, said P.J. Ventola, managing director of development at Mission Peak, whose subsidiary, Peak Homes, is working on The Homes at Wolf Creek. “We are less expensive than it costs to buy the same home (with) today’s interest rates,” Ventola said. “It is designed to be with like-minded people who are renting by choice.”
Source: Kansas City Business Journal
