Wan Bridge Opens Houston-Area BTR Community
Crystal View at Lago Mar comprises 151 units.
Wan Bridge has opened Crystal View at Lago Mar, a 151-unit single-family rental community in Texas City, Texas. The property is part of the 2,033-acre Lago Mar master-planned community that is set to encompass nearly 4,000 homes and house roughly 14,000 residents.
The community encompasses two-story duplex and triplex townhomes ranging from 1,429 to 1,883 square feet. Units feature keyless entries, two-car garages, 10-foot ceilings, alarm systems, as well as oversized kitchen countertops.
Lago Mar’s amenities are available for Crystal View residents as well, including watersports such as paddle boarding, sail boating and kayaking. Furthermore, a 100-acre entertainment district featuring swimming pools, playgrounds, gyms and green spaces, as well as beaches along the 12-acre Lago Mar Lagoon, is also accessible.
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Located at 12930 Crystal View Blvd., the property is less than 1 mile west of Interstate 45, as well as roughly 15 mines northwest of Texas City’s downtown and 30 miles southeast of Houston’s city center. Tanger Outlets Houston, an 85-store shopping center proving retail and dining options, is less than 1 mile away.
Houston’s BTR market scene
Wan Bridge has Southwest a portfolio of nearly 2,400 BTR units, including completed, under-construction and planned residences, according to Yardi Matrix data. Of the total, close to 1,900 units are clustered in Greater Houston.
According to recent Yardi Matrix research bulletin, Houston’s year-over-year rent growth in the SFR market was nearly 2 percent as of January, surpassing the multifamily rent growth during the same period by more than 1 percent. Meanwhile, the metro’s average occupancy rate clocked in at approximately 95.5 percent in January, nearly 2 percent higher than the multifamily index.
