MHN Asks: Will the North Texas BTR Market Continue to Shine?
Wan Bridge’s Kelli Cone discusses what’s behind the build-to-rent boom and where opportunities are emerging next.
Despite broader economic headwinds, the single-family rental sector continues to attract strong investor interest, especially in high-growth Texas markets. Supported by steady population gains, solid demand fundamentals and favorable land and cost dynamics, North Texas has become one of the nation’s most active build-to-rent development hubs.
According to Yardi Matrix, nearly 7,500 SFR units are currently under construction across the Dallas–Fort Worth metroplex, underscoring its appeal to both developers and investors. Among the most active players are Wan Bridge and Centurion American Development Group, which recently partnered to deliver 10 new communities across the region.
Wan Bridge’s Texas footprint continues to expand, driven by the state’s strong job market, population growth and resilient infrastructure, all of which have made Texas a prime destination for BTR investment. The company currently owns and manages 19 BTR communities statewide.
In this conversation with Multi-Housing News, Kelli Cone, senior vice president of operations and business development at TBD Management, Wan Bridge’s property management arm, discusses what’s fueling the BTR boom in North Texas and how the company approaches rental living.
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What’s driving demand for BTR communities in North Texas, and how is Wan Bridge positioning itself to meet it?
Cone: The demand for high-quality rental housing continues to surge, especially in high-growth markets like North Texas. The region’s strong job creation, population growth and evolving lifestyle preferences, particularly among Millennials and young families, are driving the momentum of the BTR sector.
We’re committed to meeting this demand with thoughtfully designed, professionally managed communities. As I often say, ‘We want to be the Four Seasons and the Ritz-Carlton instead of a motel.’ That mindset drives us to elevate the rental experience and deliver homes that rival for-sale properties in quality and design.
You’re also active in Austin and Houston. What makes North Texas distinct from those markets, and how did that influence your decision to partner with Centurion American?
Cone: North Texas stands out for its rapid suburban expansion, infrastructure investment and a growing renter demographic. While Austin and Houston are also strong markets, the scale and diversity of North Texas make it uniquely suited for large-scale BTR development.
Our partnership with Centurion American was a strategic decision. They bring deep expertise in master-planned communities, which complements our vertically integrated ‘land to living’ model. Together, we’re delivering over 1,000 homes across the Dallas-Fort Worth metroplex, starting with Frontera Shores.
What does that model mean exactly? Also, can you elaborate on your “signature lifestyle”?
Cone: The Wan Bridge signature lifestyle is about delivering the comfort of a single-family home with the ease of rental living. We control every aspect of the process, from land acquisition to property management, so we can ensure quality at every stage. Our homes are designed to feel upscale and functional, and our communities are professionally managed to provide a seamless living experience. It’s a holistic approach we call ‘land to living.’
What obstacles come with planning and building BTR communities?
Cone: One of the biggest challenges is overcoming outdated perceptions of rental housing, as there is sometimes a negative or uncertain perception. To address this, we prioritize quality. Our homes feature upscale finishes, thoughtful architecture and professional management. We also face challenges with land acquisition and construction costs, which we mitigate through our vertically integrated model and use of AI-powered tools for cost forecasting.
READ ALSO: What Does the New Wave of BTR Homes Look Like?
As renter demographics evolve, who’s leading demand for BTR housing?
Cone: Our renters include young professionals, families and empty nesters, all seeking flexibility, space and quality. Many are priced out of homeownership or prefer the convenience of renting. We believe that you don’t have to own to call it a home, so we offer exactly what consumers want: spacious floorplans, smart home features and amenities like walking trails, dog parks and resort-style pools. Our goal is to provide a lifestyle, not just a lease.
Speaking of amenities and design features, what makes Frontera Shores stand out?
Cone: Residents enjoy two- to four-bedroom townhomes with open-concept layouts, attached garages and high-end finishes. What sets us apart is our commitment to luxury and livability. Our homes feature 10-foot ceilings, up to three-and-a-half baths and premium materials—details that go beyond what most BTR competitors offer. We also emphasize community-centric design elements, with green spaces and amenities that foster connection.
How have renters’ needs evolved? Are you building differently today than you did five years ago?
Cone: Absolutely. Today’s renters expect more than just shelter. They want a lifestyle. We’ve adapted by incorporating flexible spaces for remote work, enhanced soundproofing and smart home technology. Our construction process has also evolved, with AI and robotics helping us modernize what I call a ‘dinosaur industry.’
If you had to give one piece of advice to a developer entering the BTR space for the first time, what would it be?
Cone: Think long term. BTR isn’t just about building homes. It’s about building a brand and a community. Invest in quality, embrace innovation and don’t cut corners. As we’ve learned, overinvesting in quality pays off, not just in resident satisfaction, but in long-term value.
