Ascendant Development Starts Metro Houston BTR Project
Preleasing at the 170-unit community will begin in 2026.
Ascendant Development has broken ground on the 170-unit Amplify Tomball, a single-family rental project in Tomball, Texas, near Houston. Preleasing is set to kick off in 2026.
The three-story rental homes are slated to encompass one- and two-bedroom floorplans ranging from 1,020 to 1,390 square feet.
Located at 17318 N. Eldridge Parkway, the construction site is nestled within a single-family neighborhood about 29 miles northwest of downtown Houston. Ascendant also owns the nearby 231-unit Haven at Treeline multifamily community that debuted last year.
Amplify Tomball’s amenities will comprise a swimming pool, gym with yoga studio, game room, clubhouse and dog park.
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Ascendant Development mainly focuses on multifamily and student housing development. However, the company has begun strengthening its build-to-rent portfolio as well through recent Texas projects.
Last year, Ascendant brought online Preserve at HW6, a 320-unit BTR community in Fresno, Texas. Simmons Bank provided a $52.2 million construction loan for the project in 2022, according to Yardi Matrix data.
One year before that, it wrapped up construction on Preserve at Woodridge, a 131-unit SFR community in Kingwood, Texas. Ascendant took out $21.2 million in construction financing from Moody National Bank in 2021, the data provider shows.
Houston’s BTR supply challenges
Last year, developers brought online more than 2,500 rental homes throughout Greater Houston, Yardi Matrix information reveals. The market still had nearly 3,500 BTR units underway as of February and about 800 of those are expected to come online this year, should market conditions hold.
As the inventory grew, occupancy in metro Houston dropped by nearly 1 percent year-over-year in January, a Yardi Matrix report shows. Likewise, the advertised asking rents dipped 1.5 percent during the same interval.
