An affiliated company of Watermark Cos. of Illinois recently purchased a development site in Woodbury for $11.7 million promising to bring dozens of new single-family rental homes to the market. Canvas at Woodbury North will include 89 lots and various amenities, including a clubhouse and a pool.

This is Watermark’s second development in Woodbury, previously building the 81-home Canvas at Woodbury South community. According to their website, Watermark specializes in building single-family communities “designated specifically for rent,” and they also have a similar project in the works for a 120-unit development in Inver Grove Heights. The company has offices in Illinois, Minnesota and Colorado