The 35.29-acre development is located at 10050 Hwy. 6 and includes 186 single-family build-to-rent homes with front yards, fenced backyards and attached two-car garages. The three floor plans available range from 1,114 to 1,362 square feet, and two to three bedrooms, according to a news release.
“The build-to-rent fundamentals have been phenomenal, and single-family build-to-rent has continued to prove itself as a solid niche with real runway and longevity within the rental housing market,” said Brad Dinerstein, managing partner of development and design at The Dinerstein Companies, in a news release.
The development will be fully fenced and gated, with a clubhouse, fitness center, resort-style pool with spa, outdoor kitchen area, dog park, passive outdoor courtyards, a club room, and on-site leasing and maintenance.
Missouri City approved a zone change for the development in July 2021. Completion on the project is estimated for mid-fall 2024, with initial occupancy in spring 2023.
This development joins the growing single-family rental market in Houston. According to the Houston Association of Realtors, single-family home rentals in the region have increased 24.3% since December 2021.
“With increased renter demand, we believe the build-to-rent sector will evolve and remain strong as homeownership continues to be a challenge for more and more people,” Dinerstein said in the release.
The Dinerstein Companies is a Houston-based real estate and development company that has developed multifamily apartments and student housing beds across the country. The Missouri City development accompanies the company’s launch of Inspire Homes, a new brand specializing in developing single-family build-to-rent communities.