One of North America’s largest rental home operators is expanding into Texas with a growing New Braunfels rental community.

Toronto-based Tricon Residential is working with HHS Residential, part of Highland Homes, to build 180 single-family rental homes near The Barndominium site off Texas 46.

Known as Tricon Trail Creek, the community will feature three- and four-bedroom homes with two-car garages, stainless steel appliances and smart home technology, as well as trails, a dog park, barbecue grills and a playground.

It should be finished next summer.

“These new neighborhoods offer the space and privacy of a single-family home with the flexibility and financial structure of a rental property, along with the benefits of a professionally managed community, such as low-maintenance living” , said Andrew Carmody, Managing Director and Chef. sustainability at Tricon.

New Braunfels is booming. Its population over the past decade has increased by 56% to 90,400, according to census data, making it one of the fastest growing cities in the United States.

Home prices and rents in the city are skyrocketing, and the inventory of available properties is tight.

Median rent was $1,290 for a one-bedroom apartment and $1,515 for a two-bedroom apartment in April, according to Apartment List. The median home price was $375,000, according to the Four Rivers Association of Realtors.

Tricon and HHS executives said Tricon Trail Creek will be near major highways, parks, shopping and schools and will provide another option for young families, military personnel and entry-level employees. The rent will be around $2,250 per month.

Tricon owns and operates approximately 37,000 single-family homes and rental apartments in the United States and Canada.

The company focuses on the Sun Belt. The New Braunfels project is the third of its 13 planned rental housing communities in Texas, including three in the San Antonio area, three in the Houston area, two in the Austin area and five in the Dallas-Fort area. Worth.

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