RangeWater to Expand BTR Footprint in DFW Area
The project is expected to break ground this month.
RangeWater Real Estate will expand its build-to-rent footprint with the development of a 121-unit community in Corinth, Texas, within the Metroplex region. NTT Urban Development Corp. provided equity for the project.
The developer has acquired the 14.1-acre site and plans to break ground later this month. In 2022, the Planning and Zoning Commission of the City of Corinth unanimously approved the development, at the time dubbed Greenway Trails.
Architecture Demarest provided design services. The minutes for the commission’s session listed Skorburg Co. as co-developer. The first move-ins are anticipated in the fourth quarter of 2025 and completion is slated for the second quarter of 2026.
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The project is part of RangeWater’s BTR brand, Storia. It will comprise 26 two-story buildings with three to six units. Floorplans will range from 1,451 to 1,800 square feet. The townhomes are set to feature nine-foot ceilings, granite countertops, smart-home technology and two-car garages.
Community amenities will include a swimming pool, walking trails, a fire pit, an open-air pavilion, as well as a park space for fitness and various activities. Storia-branded properties organize monthly events such as food truck festivals, book shares and open-air movie nights.
Located at 1250 N. Corinth St., the project is less than 1 mile from Interstate 35E and roughly 2 miles from Lewisville Lake. The North Central Texas College and Commons at Agora—a gathering space for activities, events and festivals—are within walking distance.
RangeWater’s growing Sun Belt BTR portfolio
This marks RangeWater’s seventh development in Texas and the fifth in Dallas-Fort Worth, as well as the second Storia community in the Metroplex. The Palo, a 120-unit single-family rental in Fort Worth, Texas, was the company’s first single-family development in the metro.
RangeWater launched Storia in 2020. At the time, the company was planning to deploy $800 million to build 15 communities throughout the Sun Belt and Mountain West markets. Since its debut, the company closed or is under contract on more than 2,200 build-to-rent units.
Overall, the build-to-rent operator manages more than 15,000 single-family rental units across upward of 114 neighborhoods throughout fast-growing MSAs. RangeWater’s pipeline consists of north of 3,000 homes throughout Atlanta, Charleston, S.C., Dallas, San Antonio and Tampa, Fla.
Single-family rental development in the Metroplex
At a national level, 72,299 single-family rental units across 432 projects were under construction as of June, according to a Yardi Matrix report. The data provider expects 35,170 units to be delivered this year, reaching a peak that is expected the decline in the following years.
More than 5,900 build-to-rent units were under construction, while north of 6,100 were in the planning and permitting stages in the Metroplex as of September, the same source shows. Â
Another ongoing BTR project is Welker Properties’ Wolf Creek Farms, a 343-unit development in Melissa, Texas. In May, Arbor Realty Trust provided a $73.4 million construction loan, according to Yardi Matrix data. Completion is expected in 2026.
