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BTR Daily - March 11, 2025 - BB Living completes 191-unit community

BTR Daily - March 11, 2025 - BB Living completes 191-unit community

Porter Kyle breaks ground on Arizona BTR. Tricon breaks ground on 38 units. Marquette starts pre-leasing at Texas BTR. Why Core Spaces invests in niche markets. Two new BTR deals.

Matt H & Aid Sopjani
March 12, 2025

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NEWS ROUNDUP

DEVELOPMENT: BB Living completes 191-unit community. BB Living has completed its single-family rental home community within Harvest by Hillwood, a mixed-use development in Argyle, Texas. Ranging from just under 1,800 square feet to over 2,400 square feet, the homes feature one- and two-story layouts with three- to four-bedroom options, up to two-and-a-half bathrooms, and two-car garages. BB Living President Branden Lombardi emphasized the appeal of single-family rentals in Argyle, noting that the community provides a quieter, more traditional home environment compared to apartments.

DEVELOPMENT: Porter Kyle breaks ground on Arizona BTR. Porter Kyle has broken ground on The Wayne, a $60 million BTR townhome community in Chandler, Arizona. This 100-unit development marks the firm’s eighth BTR project and its second in Chandler, offering a rare townhome rental option in the area. The Wayne is set to deliver in the spring of 2026. The community will feature one-, two-, and three-bedroom homes ranging from 900 to nearly 1,500 square feet, each designed with two-car direct-access garages and private backyards. Monthly rental rates will range between $2,100 and $3,000.

DEVELOPMENT: Tricon breaks ground on 38-unit BTR development. Tricon Residential has broken ground on Tricon Corona, a new BTR community that will bring 38 single-family rental homes to the Inland Empire. Located in Corona, California, Tricon Corona will offer a mix of one- and two-story homes with spacious three- and four-bedroom layouts, two-car garages, and fully fenced backyards. Andrew Carmody, Senior Managing Director at Tricon Residential, emphasized the critical need for more housing across California, noting that supply constraints continue to be a significant challenge. Blackstone’s Head of Real Estate Asset Management Americas, Rob Harper, reiterated the firm’s commitment to expanding housing supply. The project is being developed in partnership with Foremost Pacific Group and built by Woodbridge Pacific Group. Andrew Murphy, Chief Investment Officer at Foremost Pacific Group, highlighted the collaboration’s impact.

DEVELOPMENT: Marquette starts pre-leasing at Texas BTR. Marquette Companies has officially begun pre-leasing at The Sylvan, a BTR community in The Woodlands, Texas, featuring 300 single-family homes, townhomes, and apartments. According to Chris Yuko, managing director of development at Marquette, every aspect of The Sylvan was crafted to create a neighborhood where renters can put down roots. The Sylvan is Marquette’s fifth rental community in the Houston area, joining projects like Catalyst Houston, Forth at Navigation, and the ongoing development of Tempo at White Oak District, a luxury apartment complex adjacent to White Oak Music Hall.

READ: Why Core Spaces’ Dan Goldberg invests in niche markets.

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