130-unit built-for-rent community opens in Oak Creek

Illinois-based developer Heyday on Monday announced a 130-unit build-for-rent project opened in Oak Creek after nearly a year of construction.

The development is located on a 47-acre lot with a range of one-bedroom and one-bathroom to three-bedroom and two-bathroom single-story homes near Puetz Road and 27th Street. The homes are grouped into 22 buildings, with each building holding four to eight units with a mix of floorplans. Madison-based Horizon Develop Build Manage was the primary contractor.

Built-for-rent (BFR) homes are grouped like an apartment community with both apartment community amenities and the privacy of single-family housing.

“Heyday understands that there is a demand and wide-ranging appeal for this product type,” said Ryan Swingruber, co-founder and principal of Heyday. “Our residents want homes in the suburbs that provide space and privacy, but are also maintenance-free. Each Heyday home has its own private entrance, attached garage and is extremely spacious with the average home measuring approximately 1,350 square feet,” he added.

The housing concept is marketed to both millennials and Gen Z renters who want to start families and also empty-nesters who want to downsize from their two-story homes, Swingruber said.

“It lives and feels like a single-family home,” Swingruber noted. “It’s smaller than average, but that’s what makes it affordable and attractive.”

The newly completed homes feature designer finishes, storage, private patios, covered porches and high speed electric vehicle charging outlets in attached garages, officials said. A multipurpose room off the garage is used for storage, side-by-side laundry and a private area with a built-in desk.

The 220-volt EV charger helps future-proof the development and allows residents to charge their cars overnight, Swingruber said.

Last year, Heyday completed a similar project in Sun Prairie. This is Heyday’s second development in Wisconsin. Chicago-based Daniel Management Group will manage and market both properties.

Swingruber said the Sun Prairie development had 170 units and so far 110 are leased, and the developer expects the property to be fully leased by September 2024.

Leasing in Oak Creek will start in May and the developer expects to fully lease the property in August or September 2025.

Heyday will continue to look for potential development in the Madison and Milwaukee areas, Swingruber said. The company owns a site in Cottage Grove and is looking at Verona and Waunakee. It will also look at the northwestern suburbs of Illinois and the Twin Cities in Minnesota, he added.