North Carolina
Overview of the Amherst Group
Huntsville, North Carolina
North Carolina’s
Housing Market
North Carolina Needs More Attainable and Sustainable Housing
North Carolina currently does not have enough homes for its residents.
Amherst By the Numbers
32
U.S. Market
220
Counties
19
States
Amherst Housing Solutions
Renovated Single-Family Homes for Lease
Build-To-Rent Communities
Housing Incubator:
- For-Sale Homes
- Studio Built Homes
Amherst: The
Residents We Serve
The Amherst housing platform serves residents who:
- Want the flexibility and convenience of renting while in their household formation years
- Want the quality, space and amenities of a single-family home but cannot qualify for a mortgage
- Are younger, with larger families, and higher student debt burdens
- Have limited access to high-quality single family housing options
Average Amherst Resident Profile
3 Members
Per household
35-44
Years old
$85,000
Household income
$1,600
Monthly rent
Our Impact in North Carolina
Beyond providing quality housing opportunities, Amherst has a positive impact in North Carolina communities through our investments in local businesses and neighborhoods. Local vendors benefit from our investment in home renovations and homeowners benefit from the removal of blight from their communities.
We have been operating in North Carolina for 10 years through our property management arm Main Street Renewal to renovate homes or build high-quality single-family homes for lease that are affordable for families and increases access to communities of opportunity for North Carolina residents. Our presence creates jobs, helps local businesses, and improves home values.
Our Homes in North Carolina
Years in Market
10+
Number of employees
85+
Number of
Homes renovated
3k+
Years in Market
10+
Number of employees
85+
Number of
Homes renovated
3k+
Number of
Residents served
20k+
$175.8M+
Residents utilizing
Housing choice vouchers
285
Number of
Residents served
20k+
$175.8M+
Residents utilizing
Housing choice vouchers
285
Number of local
Vendors used
345+
Total invested
in local vendors
$118.7M+
HOA
FEES PAID
$2M+
Number of local
Vendors used
345+
Total invested
in local vendors
$118.7M+
HOA
FEES PAID
$2M+
Our Homes in
North Carolina
Renovated Single-Family Homes for Lease
- Amherst’s single-family rental platform provides growing families the choice of a high-quality home in communities of opportunity that they likely would not be able to access otherwise.
- Housing is an ongoing need, and we provide it in a way that is accessible, affordable, and supported by a full suite of resident services through our property management arm Main Street Renewal.
- Amherst is committed to revitalizing America’s aging housing stock. The average of the homes on our platform is 34 years old, these are homes in need of significant renovation:
- 74% of the homes we buy need more than $25,000 in immediate repairs
- 32% require more than $45,000
- None of the homes we purchase require less than $10,000 in renovations
Charlotte, NC
Estimated renovation cost at home purchase: $80,037
Amherst’s Housing Incubator
For Sale Homes
Charlotte, North Carolina
StudioBuilt™ Homes
- An innovative approach to housing development that utilizes industrialized, offsite construction to create new housing supply at scale without sacrificing quality.
- Amherst’s StudioBuilt™ Homes factory in Cuero, Texas and partner factories across the Southeast will create hundreds of new housing units every year.
- StudioBuilt™ homes are built in a manufacturing facility, which has major advantages over traditional construction:
- Innovative, sustainable housing supply creation with 40% less waste
- Safer & more efficient construction 50% faster than traditionally built homes
- High quality homes with 10 times more inspection points
- Meet all building & code requirements with customization capabilities
- Converts vacant & blighted lots into property tax producing, accessible housing
- 24/7 customer service & full suite of resident services
St. Petersburg, Florida
Build-to-Rent Communities
We acquire new-build projects as raw land, developed land, or at certificate of occupancy. We invest in these homes, with a focus on quality and sustainability, to ensure the availability of accessible housing stock for decades to come.
Benefits include:
Satisfying consumer preferences— added amenities & community safety
Solving the housing shortage— in 2021, build-for-rent homes accounted for 12% of new single-family construction
Promoting economic growth— Every 100 single-family homes constructed generates $12 million in tax revenue, and creates 290 jobs
Amherst Supports Our Residents’ Housing Stability
CARES: Industry-First Approach to Empowering Residents
Launched in 2017, the CARES (Client Assessment Resources and Empowerment Services program educates residents and empowers them to achieve greater housing stability through resource sharing, advocacy, and social-emotional support. Staffed by a team of in-house social workers and program specialists, CARES has served over 6,000 residents. CARES offers financial empowerment programming, rental & utility assistance, and personalized case management for each resident.
We promote housing stability by:
Resource sharing
Advocacy
Social-emotional support
Amherst Values at Work
Our Residents
Our Communities
Our Environment
The Future of Housing
Housing Incubator & Studio Built homes
Amherst Gives Back
The Amherst Foundation
Seeks to strengthen the communities we live and work in, by contributing to organizations that provide critical social services for those in need.
CapCityKids
[1] U.S. Bureau of Economic Analysis, data collected March 2021 collected by Amherst in August 2022
[2] U.S. Bureau of Economic Analysis, data collected November 2021 collected by Amherst in August 2022
[3] WBTV, North Carolina and the Charlotte region lacks thousands of affordable housing units, May 10, 2022
[4] WRAL Tech Wire, , North Carolina faces shortage of 900,000 housing units by 2030, exec warns, April 29, 2022
[5] U.S. Census Bureau, QuickFacts North Carolina, July 1, 2021