Avanta Residential Breaks Ground on Texas BTR Community
Slated for completion in 2024, the project will offer residents a variety of options.
Downtown Fort Worth. Image by Susan Wilkinson via pixabay
Avanta Residential has broken ground on a build-to-rent community in Fort Worth, Texas. The property, Avendale at Chisholm Trail Ranch, will include 247 patio and town homes.
The project will have one-, two-, three- and four-bedroom units. Amenities will include courtyards, trails, parks, playgrounds and lounge areas. A resident center included in the build will have a clubroom with a pool, fitness center, outdoor living space and yoga lawn.
Situated south of downtown Fort Worth at Brewer Boulevard and Saddle Pack Drive, residents are in close proximity to a bevy of retail options at The Shops at Chisholm Trail Ranch, as well as dining, entertainment and nightlife options.
Brownstone Construction is the general contractor for the project, which is expected to be completed in the spring of next year. The community is Avanta’s second in the Dallas area and its third in Texas.
Fort Worth area continues to shine
For most of last year, the Dallas-Fort Worth area performed strongly relative to other multifamily markets, with high levels of investment activity. Development has remained high with 51,621 apartments under construction as of September. Despite slows in demand and rent growth towards the end of 2022, a report by Northmarq anticipates rental levels will increase this year.
Multifamily is not the only real estate subsector experiencing a healthy level of deal activity in the area. Wentworth Property Co. recently acquired a 43,527-square-foot self storage facility situated on 2.1 acres in nearby Haltom City.
