Howard Hughes Begins Texas BTR Preleasing
Set to open in October, the community is situated within the Bridgeland master-planned development.
Howard Hughes Holdings has begun preleasing at Wingspan, its 263-unit build-to-rent property at the master-planned Bridgeland community in Cypress, Texas. The community, which will open to residents in October, features single-family attached and detached homes, townhomes, duplexes and casita-style homes.
Homes at the property are comprised of one, two- and three-bedroom floorplans ranging from 650 square feet to 1,700 square feet. Individual residences include backyards and, in select homes, garages. Resident amenities include a pool, fitness center, playground, park and fire and grilling areas.
Wingspan is situated in Prairieland Village, the third residential village within the larger Bridgeland community. Education opportunities provided to residents of Bridgeland include seven existing and planned public schools, a private school, early education providers and an upcoming charter school.
Residents of Wingspan will be in close proximity to the Chrysalis Lake area, which offers 40 acres of forested and meadowed land and a 22-acre lake. Amenities in the village are anticipated to include hiking and biking trails, lake activities, fishing, parks, playgrounds and pavilions.
Upon its completion, Howard Hughes’ Bridgeland Central will be a 925-acre mixed-use space that will include multifamily, retail, office, entertainment and dining options. Howard Hughes will manage the community.
BTR in the Sun Belt
Demand in the BTR market is extremely strong, primarily in markets across the Sun Belt. As high interest rates and economic volatility limit potential homebuyers, the sector is expected to stay robust, with developers and owners vying for projects.
Capital Square recently formed a new entity with the purpose of co-developing a BTR community in Phoenix. The 29-acre development will include 320 units with two- and three-bedroom layouts.
Welker Properties is also developing in the BTR Texas space and is currently planning a Class A BTR community in Melissa. The 340-unit community is located on 32-acres and is anticipated to offer cottage-style homes.