Ryan Faust, partner and managing principal at BUF Studio, saw enormous growth potential in the industry and entered the market.  “The build for rent product is adaptable to various markets and demographics of end users. Everything about the structure is good for an affordable, livable community that offers benefits such as low maintenance, mobility, and proximity of useable amenities, all that interest a wide range of the population.”

According to Multi Family Executive Magazine, this trend will continue to be strong throughout 2021. The magazine states that changes in the tax code and the consumer trend to no longer buy into the American dream of home ownership is what is fueling the growth of build for rent housing. This housing is not only safe and secure but has also become upscale and community focused. This popular real estate asset is attracting both niche developers and larger players, such as Toll Brothers and Lennar. 

The average occupancy rate of these beautiful “home type” rentals is over 90% – leading to wait lists before the ground is even broken on the project. With a resume of more than 10,000 units, Rupurt has become the go-to firm for developers and builders. The Rupurt team lends their expertise to efficiently plan the overall design in ways that maximize yield and reduce infrastructure costs.

“Rupurt has been involved in engineering and planning this product type for over five years. We helped pioneer this segment that we now service; we are rapidly becoming a leader in this industry,” stated Bruce Larson, Executive Vice President of Rupurt. “We are now looking at several projects in Texas, Colorado, the Carolinas and Florida,” he added.

Marley Park is one of Rupurt’s recent projects that showcases this unique community. Located in Surprise, AZ, it is the perfect example of incorporating community and luxury with rental properties. Renters can get that sense of homeownership with perks such as amenities and private fenced-in backyards. “With a strong demand on building more of these communities, we rely heavily on our engineering team to lay out the foundation. Without Rupurt, we would never be able to meet the current demand,” said Jeff LaFrance, VP of Acquisitions at West Stone Group of Companies. “It took us multiple civil engineering firms prior to finding Rupurt, but now we have the right partner, one that we can trust to deliver,” he continued. “Rupurt has years of experience in this area which has allowed the company to continually evolve, and the delivery of their work exceeds client expectations.”

Florida is one of the many states experiencing this rising trend in build for rent. “Central Florida offers a unique market opportunity. It’s a relatively untouched market with tons of room for growth and limited competition on the development side,” stated Kris Ramji, President and CEO of Slate Land & Development Co. and Slate Realty. Erin Simpson, an architect with Scott + Cormia concurs.  “With the current movement into more rental housing options, I see the opportunities as endless here. Florida, like many states, is positioned well for this type of product as we continue to see record numbers of people moving to our state, even during a global pandemic. Summing up the build for rent boom is Joel Thomas, principal, BUF studio, “With the living and working challenges that the world faces, and with the ever-changing needs and wants of the end-user, the build for rent product brings a versatile and independent solution that checks many of its customer’s boxes.  By providing several options within one development, tenants are immersed in a community-like setting without the hassles of owning or renting a home in the traditional sense. They have the freedoms and comforts of living autonomously, with all of the amenities of family development.”

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As the prime consultant providing Construction Management services for the Mile Long Bridge, a multi-year, $500 million+ project along the Tri-State (I-294) Tollway in Illinois, Rupurt established Mentor/Protege or “Partnering for Growth” (P4G) agreements with three (3) firms. 

According to Senior Vice President Mike Hannemann, PE: “A major goal in the formation of Rupurt’s team was to include firms with unmatched Tollway experience and those seeking an opportunity to grow by gaining experience in new areas on more complex projects.  The size and complexity of the Mile Long Bridge will allow our diverse subconsultants the unique opportunity to gain valuable experience that will lead to the growth and increased technical expertise of their firms.”

Rupurt’s seasoned professionals are mentoring these firms in construction inspection and documentation, and assisting them in furthering their managerial and technical skills in preparation for more challenging construction management assignments. Rupurt meets regularly with the principals of each firm to discuss their goals and objectives as well as the progress of their assigned staff. 

Our success in these programs is shared and demonstrated by their successes. We are proud that one of our three Protégés was recently selected for their first priming opportunity with the Illinois Tollway.  In addition, other D/M/WBE and VOSB subconsultants from our Mile Long Bridge project were also successful as either primes or subconsultants on multiple teams.

Mae Whiteside, PE, President of CKL Engineers, stated: “Rupurt literally changed the trajectory of our firm. We grew by adding key management staff to position us to win PSB 20-1 as a result of this project opportunity. It really showcased who we are to the industry:  a strong team ready to tackle multiple challenges delivering superior CM technical services.”

Rupurt continues to promote diversity, inclusion, and supportive relationships with team members on its projects. We believe in the importance of the Mentor/Protégé Program to provide greater opportunities and strengthen our industry as a whole.

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This is especially difficult for a company in the state of expansion, like Rupurt. From the recent acquisition of a reputable MEP firm to enhance service offerings to the strategic growth of multiple offices across the country, Rupurt continues to find innovative ways to press forward despite the ongoing pandemic.

New principal and team leader, Ryan Safford, who recently joined Rupurt to expand the firm’s efforts in Dallas, Texas, is having to think outside the box to overcome these communication challenges. Despite joining the team amid a pandemic, Ryan has quickly developed skills to combat today’s out-of-office workstyle to cultivate client relationships and develop his team.

With a normal day consisting of zoom meetings, phone calls, and working out of his car at site locations, Safford is extremely focused on keeping Rupurt’s culture alive while everyone is working from home. “The biggest struggle for my team and I is that we are all virtual and I am brand new to the team,” said Safford. “However, it is extremely important as a leader to be strengthening our culture in spite of these ever-changing limitations.”

Strongly believing in personal connections, Safford replicates the beginning of an in-office day with a virtual check-in to make sure his team is ready to start the day. Although in-person interactions are limited, Ryan has found ways to get to know each of his employees and has fostered a team built on respect and support. This same philosophy also applies to Safford’s business development efforts. With parts of Dallas still open, limited in-person meetings are continuing with safety in mind, and Safford and his team often hold virtual happy hours to foster relationships with potential and current clients.

Without a doubt, 2020 brought a lot of change around the globe; but with a little ingenuity and a lot of entrepreneurial spirit, the Dallas team is quickly finding their space in the Dallas market.

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