Houston developer Wan Bridge expands ‘build-to-let’ program to Balmoral

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Houston builder Wan Bridge will add two new sections of townhomes built for the rental market in Balmoral, a Land Tejas community in northeast Humble as part of its Texas expansion.

The 200 planned residences are part of a pipeline of more than 1,000 additional rental building units in Texas announced by Wan Bridge and Land Tejas, a Houston developer of more than 20 communities in the area. The houses are expected to be completed in 2023.

Wan Bridge completed Clearwater at Balmoral, a 94 townhouse development in Balmoral, in July. The company will build homes in two additional sections, offering three- and four-bedroom townhouses ranging from 1,400 to 1,800 square feet, according to Wan Bridge and Land Tejas. Some units will have a view of the Crystal Clear Lagoon community amenities.

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Rents for Balmoral’s new townhouses are expected to start at $2,200 per month, depending on market conditions, according to Wan Bridge.

New rental homes are a growing component within planned communities, combining the lifestyle and privacy of a home with the flexibility of rental.

“Pushing the boundaries of real estate in Texas and shaking up the traditional model has been a goal of Land Tejas since we started building communities,” Land Tejas Executive Vice President Uri Man said in a “The The build-to-let model gives tenants the opportunity to experience the community and potentially become owners in the future.

Founded in 1997, current Land Tejas developments include Sunterra in Katy, Lago Mar in Texas City, Sierra Vista in Iowa Colony and Marvida in Cypress.

Land Tejas recently partnered with another build-to-let developer, Clay Residential, on its first build-to-let neighborhoods, beginning with Sierra Vista along the Texas 288 corridor south of Houston.

Also in the northeast Houston area, Leva Living recently opened its first development, a 162 single-family rental home community at 17260 West Lake Houston Parkway, south of Atascocita Park. The first phase is expected to open in November.

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Wan Bridge’s latest expansion comes after the announcement last year of a multi-billion dollar equity commitment from an anonymous US institutional investor to fund its expansion into Texas markets such as Houston, Dallas, Austin and San Antonio. Wan Bridge and Land Tejas said they would be announcing additional units in the coming months.


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