Multi-Family Residential Developer

Homes That Work for the People Who Keep Communities Strong

Hearth Residences develops high-quality, attainable rental communities designed for working professionals, families, essential workers, and retirees. By offering well-located, thoughtfully designed housing with reasonable rental pricing, we provide an alternative to high-cost urban rents - giving residents the space, comfort, and stability they need to thrive. Our communities are built for long-term growth, sustainability, and lasting value, ensuring a better future for the people who make our communities strong.

Developing Communities That Feel Like Home

More than just a physical structure, the hearth has always been the heart of the home, both physically and symbolically. As the central fireplace, it was where warmth radiated, meals were shared, and stories passed from one generation to the next. The hearth was a place of unity, a constant source of comfort and stability – a space that transformed a house into a home.

At Hearth Residences, we honor this timeless tradition by crafting multi-family rental housing that foster connection, warmth, and belonging. Our developments are designed not just for shelter, but to be the heart of your life’s most cherished moments.

Our Properties

Well-Designed Apartment Communities: Our apartments are thoughtfully designed to maximize space, natural light, and functionality. Incorporating principles of good design and biophilic architecture, our communities feature open layouts, ample windows, and green spaces that connect residents to nature. These elements enhance well-being, promote relaxation, and create a living environment that feels both modern and inviting.

Modern Appliances: Each apartment is equipped with high-quality, energy-efficient appliances to support a comfortable and convenient lifestyle. Every home includes a fully equipped kitchen with an oven, refrigerator, microwave, and stove, as well as an in-unit washer and dryer for everyday ease.

Strategic Locations: Our communities are strategically located in exurban and rural areas, offering a peaceful living environment while maintaining accessibility to nearby major metropolitan areas. We carefully select locations that provide safety, natural beauty, and long-term growth potential, ensuring a high quality of life for our residents. By situating our developments within reach of urban job markets, entertainment, and essential services, we offer the perfect balance between tranquil living and city convenience.

Resident-Focused Approach: We believe that a home is more than just a place to live - it’s a community. Our team is dedicated to responsive management and open communication, ensuring that residents feel valued and supported. We foster a welcoming environment through well-maintained properties, shared amenities, and opportunities for social engagement.

Pet-Friendly Living: We know that pets are family, which is why our communities are designed to be pet-friendly. With dedicated outdoor spaces, walking paths, and policies that welcome four-legged companions, we create an environment where all residents - human and animal - feel at home.

A Place to Call Home

Thoughtfully designed communities that offer comfort, connection, and a true sense of belonging.

At Hearth Residences, we design our apartment communities to meet the needs of a diverse range of residents, providing comfortable, well-connected homes in exurban and rural areas. Our thoughtfully developed communities offer a balance of peaceful living and accessibility to major metropolitan areas, making them ideal for:

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Professionals
For those seeking an affordable yet well-designed home outside the congestion of urban centers, our communities provide a modern living experience with convenient access to work opportunities, high-speed internet, and recreational amenities.

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Families
We offer safe, family-friendly environments with well-planned spaces, green areas, and access to schools, parks, and essential services. Our communities are designed to foster connection and provide a supportive atmosphere for growing families.

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Retirees & Empty Nesters
For those looking to downsize without compromising on comfort, our apartments offer low-maintenance living in peaceful surroundings, with access to modern amenities and a strong sense of community.

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Local Workforce & Essential Workers
Our communities provide affordable, high-quality housing for essential workers, service industry professionals, and local employees who want to live closer to work while enjoying a comfortable and well-managed home.

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At Hearth Residences, we believe that home is more than just a place to live – it’s a community where people can thrive.

The Demand for Attainable Housing

The U.S. housing market is facing an increasing gap between housing affordability and availability. Rising urban rents, limited housing supply, and the shifting needs of working professionals and families have created an urgent demand for well-priced, high-quality rental communities in exurban and rural areas.

Urban rents continue to rise – The median U.S. rent has increased by 18% since 2020, pricing out middle-income workers.
More Americans are cost-burdened – Nearly 50% of renters spend more than 30% of their income on housing, making homeownership or city living increasingly out of reach.
The workforce is being pushed out of cities – Essential workers, educators, healthcare professionals, and service industry employees are struggling to find rental housing near their jobs.
The rise of remote and hybrid work – More professionals are looking for spacious, affordable rental housing outside of urban cores while maintaining access to metro areas.

Hearth Residences addresses these challenges by developing well-located, attainable rental communities that provide a high-quality alternative to high-cost urban housing.

The Shift Toward Exurban & Rural Rental Communities

The demand for rental housing is expanding beyond city centers. As more individuals and families seek affordability, space, and better quality of life, exurban and rural rental communities are experiencing rapid growth:

Population shifts – More Americans are moving to smaller cities and exurban areas, fueling demand for housing alternatives.
Growing local economies – Many of these areas are seeing new job creation, increasing the need for modern, well-managed rental housing.
Affordable alternatives to homeownership – With rising mortgage rates and limited housing inventory, renting remains the best option for many working professionals and middle-income families.

Hearth Residences is strategically positioned to meet this demand by offering rental housing that is affordable yet modern, sustainable, and built for long-term stability.

Acute Supply-Demand Imbalance

The growth in sectors requiring cold storage usage is expected to far exceed the estimated growth rate of cold storage facilities, and a continued supply-demand mismatch is expected for the foreseeable future.

Current market size
The U.S. cold storage market is currently valued at $46.5 billion, covering 265 million square feet.

Future growth projection (supply)
By 2030, the market value is projected to grow to $110 billion, driven by a compound annual growth rate (CAGR) of 15.5%, with the total floor area expanding to 315 million square feet.

Anticipated market need (demand)
By 2030, the market is expected to require 450 million square feet of cold storage.

Supply vs. demand mismatch
Despite the impressive supply-side growth figures, they fall short when compared to the anticipated demand, leading to a significant supply-demand imbalance.

Projected supply shortfall
This supply shortfall is expected to result in a 135 million square feet gap, or roughly 30% less than what is required to meet demand, creating a highly competitive and constrained market.

Growth Drivers

E-COMMERCE EVOLUTION:

Changing consumer behavior and rapid adoption of online shopping for fresh groceries demands robust cold chain solutions to maintain product quality from store to door.

RESHORING:

Bringing food production and manufacturing operations back to U.S. soil increases the demand for cold storage to preserve the integrity of locally produced goods.

SUPPLY CHAIN DYNAMICS:

The expanding global supply chains, driven by growing exports and imports of high-value and processed food items, are creating an urgent need for enhanced cold storage infrastructure to meet rising international and domestic demand.

HEALTHCARE & PHARMACEUTICAL IMPACT:

The development and distribution of temperature-sensitive vaccines, especially during pandemics, highlight the critical role of cold storage in the healthcare industry. The growth of biopharmaceuticals, which often require strict temperature controls, further drives the demand for specialized cold storage solutions.

HIGH-TECH INDUSTRY GROWTH

The growth in industries like semiconductors, batteries, and other high-tech fields is driving increased demand for specialized cold storage solutions, essential for maintaining the stability and optimal performance of these highly temperature-sensitive products.

URBANIZATION:

Growing populations, especially in urban areas, drive higher consumption of perishable goods, leading to greater demand for cold storage facilities to support food supply chains. As more people move to cities, the proximity of cold storage facilities to these urban centers becomes critical for efficient last-mile delivery.

Aging Inventory

Current State of Cold Storage Facilities: A significant portion of the cold storage infrastructure in the United States is outdated, with the average facility being older than 40 years old. Approximately 80% of cold storage facilities in the U.S. were built before 2000.

Inefficiencies and High Operating Costs: Older cold storage facilities typically suffer from inefficiencies such as poor insulation, outdated refrigeration systems, low ceilings, and inadequate temperature control. These inefficiencies result in higher energy consumption, increased maintenance costs, and greater risk of temperature fluctuations that can compromise the quality and safety of stored products.

Increased Risk of Product Spoilage: As cold storage facilities age, the risk of equipment failure and temperature inconsistencies grows. This not only threatens the integrity of perishable goods but also increases the likelihood of product spoilage, leading to potential financial losses for businesses relying on these facilities.

Need for Modernization: To keep pace with the growing demand for temperature-sensitive logistics, there is an urgent need to modernize existing cold storage facilities. However, due to the limitations of retrofitting older structures, building new, state-of-the-art facilities often becomes the only viable option.

Declining Overall Capacity According to the USDA, there’s been a reduction in overall usable cold storage capacity, dropping by 1.2% from 2021 to 2023, primarily due to the combination of aging infrastructure and insufficient new construction.

"The hearth has always been more than a physical structure - it’s the heart of the home, where warmth radiates, meals are shared, and stories unfold. At Hearth Residences, we carry this tradition forward by creating communities that transform housing into homes, fostering connection, comfort, and a true sense of belonging."