In a nutshell
Located at 22851 Terrazzo Drive, the 22-acre build-to-rent community will offer 175 homes, according to a news release from developer Tricon Residential. Rental rates range from $2,369-$2,799 monthly, per the website.
Forty-six homes are complete, with 32 of them leased and 14 available, Andrew Carmody, senior managing director of Tricon Residential, said in an email. Construction on all homes will be completed by the third quarter of 2026.
According to the release, the homes feature:
- One- and two-story options
- Three- and four-bedroom floor plans
- Two-car garages
- Fenced backyards
- On-site maintenance
- A playground
- Pool
- Dog park
- Barbecue area
- Electric vehicle charging stations
The Katy community, which began leasing in September, will help meet the demand for rental housing options in the Houston area, Carmody said in the release.
“Tricon Peek Road addresses Texas’ critical need for high-quality housing options during this period of economic and population growth, when it has become nearly impossible for so many Americans to become homeowners,” Carmody said in the release.
The single-family rental supply in the Houston area is keeping up with the region’s demand, according to a March report from the Houston Association of Realtors. The number of single-family rental properties leased by tenants increased year over year, from 3,988 last March to 4,088.
“The Houston rental market is in a good balance as the number of homes available for rent is keeping pace with the number of people looking,” HAR chair Shae Cottar, who is with LPT Realty, said in HAR's release.
Additionally, Cottar noted more renters are beginning to consider buying a home as interest rates have stabilized.
Meanwhile, Tricon Residential offers tenants access to a free online resource called Tricon Vantage, according to the release. The resource includes a credit reporting tool, a down payment assistance program, and financial coaching and literacy programs.
What’s next?
Tricon Residential has constructed more than 600 new build-to-rent homes in Texas, with about 350 more homes planned to join the state this year, Carmody said.
