SCOTTSDALE, Ariz. — March 2026 — Cavan Companies has secured land for The Bungalows at Prairie Hills, a 154-home single-story Build-to-Rent development in Papillion, Nebraska. The project represents the company’s third community in the Omaha metropolitan area, reinforcing Cavan’s expansion into stable Midwest markets with durable housing demand.

Located on approximately 16 acres at the southwest corner of Highway 370 and South 114th Street, Prairie Hills sits within Sarpy County, one of the fastest-growing suburban corridors in the Omaha region. The location provides convenient access to Interstate 80, Offutt Air Force Base, and major employment centers, as well as established retail and services at Shadow Lake Towne Center.

Horizontal construction is scheduled to begin in May 2026.

The Prairie Hills development will include 154 detached single-story homes with one-, two-, and three-bedroom floorplans ranging from approximately 683 to 1,389 square feet, along with 104 garages and community amenities including a clubhouse and fitness center.

The project complements Cavan’s two existing Omaha developments currently entering lease-up:

• The Bungalows at Whitehawk Lake (West Omaha) — Phase 1 leasing and move-ins begin April 1, 2026
• The Bungalows on Honeysuckle (Elkhorn) — Phase 1 leasing and move-ins begin April 15, 2026

Together, the three communities represent one of the largest single-developer Build-to-Rent platforms currently underway in the Omaha metropolitan area.

“Omaha exemplifies the type of market we prioritize for long-term Build-to-Rent investment,” said Norm Miller, Chief Executive Officer of Cavan Companies. “The region combines diversified employment, steady population growth, and a measured development pipeline that supports stable occupancy and sustainable rent growth.”

The Omaha metro has surpassed one million residents and continues to benefit from a diversified employment base including Berkshire Hathaway, Union Pacific, Mutual of Omaha, CHI Health, Nebraska Medicine, and Offutt Air Force Base. Sarpy County has been one of the fastest-growing areas in the region, supported by strong schools, infrastructure investment, and suburban housing demand.

While new for-sale housing has expanded along the Highway 370 corridor, purpose-built single-family rental communities remain limited—creating an opportunity to serve households seeking the space and privacy of a detached home without the financial barriers of ownership.

“With limited supply of dedicated single-family rental communities in high-growth suburban markets, we believe Build-to-Rent offers attractive long-term operating fundamentals,” Miller said.

Cavan Companies brings more than 50 years of real estate development experience and has focused on the Build-to-Rent sector since 2016 through The Bungalows, delivering single-story communities designed for long-term resident retention and stable income performance.