Partnership Plans 1,000 BTR Units Across Texas
February 14, 2022 at 04:32 PM
Wan Bridge and Land Tejas will begin the pipeline expansion with 200 units at Balmoral community in North Houston, TX.
HOUSTON, TX – Builder and operator of BTR communities, Wan Bridge and developer Land Tejas plan to develop a pipeline expansion of more than 1,000 BTR units across Texas. The Texas-based companies will commence the pipeline expansion at the North Houston, TX community, Balmoral. In July 2021, Wan Bridge completed the 94-townhome unit community, Clearwater at Balmoral, within the existing development. Clearwater at Balmoral serves as Wan Bridge’s first BTR development and exclusive townhome offering in the Land Tejas lagoon community. The firm is now partnering with Land Tejas to lease out an additional 200 lots within the community, under Wan Bridge’s BTR model. The expansion will include two additional sections. The new three- and four-bedroom townhomes will range from 1,400 to 1,800 square feet and will feature 10-foot ceilings, open floorplans, oversized countertops, and walk-in pantries and closets.
“The build-to-rent model of real estate has found a thriving home in Texas and we are eager to continue expanding our footprint across the Lone Star State, starting at Balmoral,” says Ting Qiao, CEO of Wan Bridge. “Land Tejas’ endorsement and trust in our build-to-rent model demonstrates that our product has a place in master-planned communities, so together we can offer residents the best of our company’s signature products.”
“Pushing the boundaries of real estate in Texas and shaking the traditional model to its core has been a Land Tejas goal since we started building communities, and Ting and his team have uniquely complemented our Balmoral project,” states Uri Man, EVP at Land Tejas. “The build-for-rent model, especially higher-end luxury product like the Wan Bridge product, is an important asset to master-planned communities because it gives renters the opportunity to experience the community and potentially become homeowners in the future.” Man adds, “Despite recent supply chain issues and labor shortages, Wan Bridge has proven its dedication to delivering a quality product by not only completing all Clearwater at Balmoral units on time but successfully leasing 100%. We look forward to an expanded relationship with Wan Bridge where we can provide more opportunities for residents to live in a Land Tejas community and call it home without owning.”
View source version on globest.com: