Hillwood Communities, a Perot Company, and build-to-rent company BB Living are partnering on a single-family rental home neighborhood within Harvest in the Northlake/Argyle area.
“Single-family for lease homes are in high demand,” said Fred Balda, president of Hillwood Communities, the developer of Harvest. “This new product not only allows families who don’t want home ownership, a chance to live in a great community like Harvest, they are a perfect solution for buyers in transition and relocation buyers new to the area.”
BB Living will build 191 homes at Old Justin Road and Harvest Way that range from 3 to 4 bedrooms and 1,800 to 2,500 square feet. The company will also offer on-site management.
“We teamed with BB Living for this new venture because they build a first-class product and experience that feels like an extension of our masterplan,” said Balda.
Single-family rental homes cater to a rapidly expanding residential demographic of young professionals, couples and families who want the advantages of a home without the mortgage, down payment, homeowner expenses and permanence that come with buying a house. They have become more popular, particularly during the pandemic, as renters want more privacy, less communal space, the convenience of professional property management and amenities associated with new homes.
BB Living has partnered with Toll Brothers to expand the build-to-rent concept in over 30 communities nationwide, with over 5,000 homes spread across 10 markets.
“We’ve been doing this for a decade now and have learned a lot of lessons,” said Branden Lombardi, president of BB Living. “Our residents want a sense of community and Harvest is very intentional about delivering that. Renting was not always viewed as a good option, but we are changing that perception by delivering unique neighborhoods in great communities, resort-style amenities, superior locations and a focus on the resident experience.”
Students in the single-family rental neighborhood will attend Argyle ISD.
BB Living has designed all new floor plans for Harvest. Construction is underway and pre-leasing is now open at www.bbliving.com/homes/tx/argyle/harvest.