HOUSTON – (Realty News Report) – The Howard Hughes Corp. — the developer of some of the nation’s largest master planned communities including The Woodlands in Houston and Summerlin in Las Vegas – is developing its first single-family Build-To-Rent community.
Howard Hughes Corp. announced that construction is underway for Wingspan—a build-to-rent neighborhood of 263 homes in Bridgeland, an 11,000-acre master planned community in the northwest Houston area.
The BTR development, called Wingspan, will provide renters with best-in-class amenities and lifestyle offerings within the master planned community. Situated on 27 acres within Prairieland Village, the first residents will move into Wingspan by summer 2023.
Arch-Con Corp., a Houston-based construction firm that builds multifamily and commercial properties, is constructing the Wingspan BTR project.
Wingspan will offer a mix of single-family attached and detached homes, including casita-style homes, townhomes and duplexes. Inspired by a modern farmhouse design, the homes will feature one- to four-bedroom floorplans ranging from 650 to 1,700 SF along with private backyards and garages in select units. All homes in Wingspan will have a backyard that will include maintenance service and will be gated for private, secure access.
“By adding Wingspan to our diverse housing options in Bridgeland, Howard Hughes is responding to the unwavering demand for turnkey homes with all the benefits that come with living in the master planned community,” said Travis Guinn, Vice President, Vertical Development for The Howard Hughes Corp. “Created for renters seeking a lock-and-leave lifestyle, Wingspan offers another attractive option for those who want to benefit from connectivity to hundreds of acres of green space and access to top-ranked schools along with in-demand retail and dining destinations.”
The Build-To-Rent sector has been expanding rapidly in the last two or three years as investors have been attracted to its promise of significant returns. With rising home prices and escalating mortgage rates, buying a home has become challenging for many families.
The single-family BTR dwellings give renters the yards and amenities of living in suburban master planned communities.
Zoned to Cy-Fair ISD — a top-ranked school district in Texas — Wingspan is ideally located directly south of the 22-acre Chrysalis Lake, surrounded by nearly 40 acres of forests and meadows, with direct access to Grand Parkway. Additionally, Wingspan will offer exclusive on-site amenities that include a pet park, playground, pool, state-of-the-art fitness center and covered outdoor spaces complete with grilling stations.
“Wingspan will be managed by Howard Hughes’ multifamily division, ensuring that tenants and neighborhood residents regularly experience the best-in-class quality for which Bridgeland is known,” said Guinn.
Prairieland Village is the third village in Bridgeland, adding approximately 7,000 homesites to the acclaimed master planned community.
Shares of The Howard Hughes Corp. are traded in the New York Stock Exchange under the symbol HHC.
June 22, 2022 Realty News Report Copyright 2022
Image: Courtesy HHC
File: Single Family Rentals Underway by Howard Hughes
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File: First Single Family Rentals Underway by Howard Hughes. HHC.