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BTR Daily - February 21, 2025 - Ascendant breaks ground on 170-unit BTR

BTR Daily - February 21, 2025 - Ascendant breaks ground on 170-unit BTR

Ascendant breaks ground on 170 units. Coastal Ridge begins work on 277 units. Rental townhome project proposed for LA neighborhood. Pappas to build 65 units in North Carolina. Florida to add 13,000+ rental homes in 2025. Two new BTR deals.

Matt H & Aid Sopjani
February 21, 2025

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NEWS ROUNDUP

DEVELOPMENT: Ascendant breaks ground on 170-unit BTR. Ascendant Development has officially broken ground on Amplify Tomball, a 170-unit BTR project in Tomball, TX. Preleasing is set to begin in 2026. The three-story rental homes will offer one- and two-bedroom floorplans, ranging from 1,020 to 1,390 square feet.

DEVELOPMENT: Coastal Ridge begins work on 277 units. Coastal Ridge has begun construction on Stillwell Pasco Station, a 277-unit BTR community in San Antonio, FL. The development will include a mix of one-, two-, and three-bedroom homes, with floorplans reaching up to 1,300 square feet. The first homes are expected to be completed in early 2026. The project is being developed in partnership with several companies. BBL is serving as the general contractor, KTGY is the project architect, Kimley-Horn is handling engineering and landscape architecture, and HPA is leading interior design efforts.

DEVELOPMENT: Rental townhome project proposed in LA’s North Hills neighborhood. A new residential development has been proposed for 9335 Noble Avenue in North Hills, aiming to transform the site into a three-story, seven-unit townhome rental community. The project is set to replace a 1950s single-family home currently occupying the site.

DEVELOPMENT: Pappas to build 65-unit BTR in Raleigh, NC. Pappas Properties has received unanimous approval from the Raleigh City Council to develop Crabtree Village, a 65-unit BTR community in Raleigh, NC. Construction is expected to begin in September 2025. Crabtree Village will feature two- and three-story rental homes, ranging in size from 1,600 to 2,000 square feet. This marks the fourth site rezoned by Pappas Properties in the past 18 months, with the other three located in Charlotte, North Carolina.

READ: Florida to add more than 13,000 rental homes in 2025.

MUST ATTEND BTR EVENT

IMN’s Build-to-Rent East brings together over 800 homebuilders, investors, operators, and land professionals to network and drive business.

This premier event explores the role of purpose-built rental homes in tackling the national housing shortage and navigating today’s challenging capital markets and operational environment.

Join industry leaders for vital discussions and deal-making opportunities!

BTR FOR SALE

Click each image for more information:

Copper Run | Copper Lead Parkway Durham, NC 27703

Forward Sale | 141 THs | Prime Location | Call For Offers on Feb. 26

Avalon Village | 250 Homestead Rd S, Lehigh Acres, FL, 33936

Forward Investment Opportunity | 148 Units | Attached 2-Car Garages | Private Fenced Yards

ONE MORE THING

did you know you can fly first class for free if you fly 200 times a year and spend 2 weeks a year optimizing your points and don’t care when your flight is or where you’re going?
I thought it was too good to be true too!
— the Rich (@Duderichy)
3:02 AM • Jan 23, 2025

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