Those looking to rent a home now have a new option that has not been previously available in the Dallas-Fort Worth Metroplex, according to developers: moving into a gated community that contains brand new homes for rent only.
The Cottages at The Realm in Castle Hills will consist of 72 three- to four-bedroom homes with high-end interior features, a neighborhood pool and access to Castle Hills. The homes range from 1,844 to 2,777 square feet with rents starting at $2,736 per month.
The first homes will be available for move in in mid-February, according to Bright Realty officials.
“Cottages at The Realm is a unique concept that meets the needs of the local housing shortage with so many people looking for homes in Castle Hills and the growing [SH] 121 corridor,” said Eric Stanley, president and COO of Bright Realty. “We are specifically seeing an unmet demand for homes versus apartments. These homes are a great alternative for those who want a home but don’t want the associated upkeep of buying a house, along with renters looking for more square footage and higher-quality amenities than most apartment communities offer.”
The immediate area around Castle Hills is already home to DFW’s biggest corporate relocations, including Toyota North America (4,100 jobs), Liberty Mutual (5,000 jobs), JP Morgan Chase (4,800 jobs) and AmeriSourceBergen Corp. (3,000 jobs). Castle Hills is also on the list for Amazon’s HQ2 project, one that would bring 50,000 employees to the area.
“The neighborhood will also help fill the need for temporary corporate housing for thousands of people relocating to this fast-growing area every month and for those who want a home for their families before deciding where to permanently reside in the region,” Stanley said.
The homes are being built by American Legend Homes, one of the largest homebuilders in North Texas, and part of Bright Industries, Bright realty’s parent company.
Castle Hills is a 2,800-acre master-planned community located near SH 121 and Windhaven Parkway. The development is expected to be annexed into the city of Lewisville in the future.