Embrey Secures Site for San Antonio-Area BTR

Embrey Partners has begun the development of its latest single-family build-to-rent project with the acquisition of 74 acres in Schertz, Texas, a northeastern suburb of San Antonio. The project, called Collection Schertz Station, is a 318-unit townhome community that will include on-site dining and retail space. 

The announcement marks both the developer’s fourth in the Collection line of single-family communities, all of which are so far located in Texas. The developer’s first BTR development, Collection at Gruene, is also located in the San Antonio area, and is expected to be completed this year.

Collection Schertz Station is one of the first announced projects to follow the closing of Embrey Horizontal Living Fund I, a $160 million discretionary equity vehicle dedicated to developing build-to-rent communities in the Sun Belt. Upon completion, Collection Schertz Station will bring Embrey’s portfolio to 1060 units.

In the long term, the firm is planning on building a $500 million Sun Belt portfolio. During an August interview with Multi-Housing News, Embrey Senior Vice President of Development Jeremy Williams reported that the firm is targeting four to five project starts a year, and hopes to expand into Tennessee, Florida and North Carolina.

Experience-focused

Collection Schertz Station will consist of duplex-style townhomes offering one, two or three bedrooms. Interiors will feature kitchens with stainless steel appliances, pantries and designer fixtures, in addition to washers and dryers, hardwood-style flooring, private patios and attached or detached garages with electric vehicle charging plugs. Around the community, residents will have access to a fitness center, swimming pool, grilling areas, gas-powered firepits, pickleball courts, electric vehicle chargers, a dog park and private offices, as well as game and media rooms. 

READ ALSO: What’s on the Horizon for the SFR Market?

Collection Schertz Station will also include retail and dining space being developed by Merit Commercial Real Estate, and will be situated at the intersection of Interstate 35 North and Cibolo Valley Drive behind the EVO Entertainment complex. That property includes cinemas, a restaurant and a bowling alley.

With direct access to the Interstate 35, the community offers residents quick access into Downtown San Antonio, located 18 miles to the southwest.

Sun Belt surge

Owing to its warm climate, migration and job growth, the Sun Belt remains a hot spot for SFR investment and development, attracting the attention of the likes of AJ Capital Partners and Tricon Residential. San Antionio enjoys a rare mix of affordability and strong demand, with an average renter by necessity segment of $1,078.

A recent headline from the city’s single-family rental sector is the opening of YardHomes Juniper Pointe, a 248-unit community that was developed by Urban Moment Development.