Homz aims to develop sustainable, wellness-centric communities that feature a common style, layout, and facilities. Credit: Rudy and Peter Skitterians / Pixabay.

US-based national housing company Homz has raised $50m in pre-seed funding to develop affordable rental housing communities in the US.

Dallas-based venture capital firm Nanban Ventures served as the lead investor in the pre-seed funding round, with investments also coming from family offices, high-net-worth individuals and ultra-high-net-worth individuals.

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Homz aims to address affordable rental housing shortages by developing sustainable, wellness-centric communities with a standard style, layout, and facilities.

The firm intends to use the proceeds to develop communities throughout the Southeast.

It plans to build 50 communities targeting the Tier-II markets within a 20-30 minute drive from major high-growth Metropolitan Statistical Areas (MSAs).

Homz board member Kim Diamond said: “It’s no secret that there is a lack of attainably priced housing in the US, which severely restricts optionality and socioeconomic advancement.

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“The pre-seed funding illustrates the value institutions see in our business model and its potential to be an important solution that addresses the universal funding challenges prohibiting the development of attainable housing communities throughout the country. We look forward to using the proceeds to accelerate the progress we’re making and fund market research in the cities we have identified as strategic fits for our product.”

Its mixed-use master-planned communities will feature 54 amenities, including clubhouses, playgrounds, pools, athletic fields, urban farms, and Miyawaki forests to promote overall wellness and create a vibrant neighbourhood.

Furthermore, every community will have four multifamily brands, namely UP, 24, NJOY and LYF, to meet the requirements of renters at each stage of their lives. It will also have a selection of build-to-rent single-family homes.

UP and 24 aim at value seekers, while NJOY and LYF provide larger floorplans for roommates and families.

Nanban Ventures CEO and managing partner Gopala Krishnan said: “Investing in Homz provides us with an opportunity to contribute to the betterment of society and the livelihoods of many individuals and families without limiting our return potential. We are excited to see these communities come to life.”

Homz expects to invest between $140m and $170m in each community and obtain funding from the Department of Housing and Urban Development.