Barsala, the tech-enabled flexible housing operator, will soon launch 72 units at Aurora Luxury Apartments in Madison, Alabama, through its partnership with Kittle Property Group Inc.
Barsala will operate 22% of the 324 units in Aurora Luxury Apartments, transforming them into high-end, short-term corporate rentals to fulfill the growing need for corporate housing in the area. Barsala will have the units ready and launch their lease-up efforts beginning June 1, 2023.
“We’ve seen the demand for flexible housing, specifically short-term and corporate, gain immense steam within the rental housing space over the past decade. When there’s an influx of demand in a tertiary market like Madison, Alabama, it demonstrates just how vast and widespread that demand is,” said Jason Istrin, vice president of real estate at Barsala.
Madison, Alabama, boasts a 90% business growth rate over the past decade and is home to elite aerospace companies such as U.S. Army’s Redstone Arsenal, NASA’s Marshall Space Flight Center and numerous technology and manufacturing companies.
Barsala partners with developers on new multifamily properties to create flexible revenue-driving opportunities by providing high-end, comfortable, short-term rental experiences with luxury amenities for residents. Barsala currently operates in 12 cities nationwide and plans to continue its expansion into new markets across the United States.
“Aurora is a fantastic project adding product to an otherwise underserved market,” said Jason Istrin, vice president of real estate at Barsala. “Our partnership with The Kittle Group made a lot of sense as we’re able to monetize their vacancy during the lease-up period and add a vital new stream of revenue.”
