AHV Communities, in a joint venture with Bristol Group, has begun construction on a single-family home rental community in San Antonio, Texas.
The new gated rental community of Pradera, situated on 43 acres near a major San Antonio artery, will consist of 250 luxury, detached single-family homes that will be exclusively for rent, with pre-leasing predicted to begin in the third quarter of 2018 and move-ins expected by the fourth quarter of this year. (RELATED STORY: The Rise of the Single-Family Rental)
“The San Antonio housing market is experiencing tremendous growth with the population pushing past 1.5 million people according to the U.S. Census,” says Mark S. Wolf, founder and CEO of AHV Communities. “Pradera will not only provide new housing options for residents in the area, it will also feature amenities that are typically found in newer luxury apartment communities or larger master-planned communities.”
Future residents of the neighborhood will be able to enjoy planned common spaces including a clubhouse, café style working areas, community kitchen, swimming pool, fitness center, dog park, and walking trails. Onsite management will also oversee all landscaping and repairs for the community.
AHV Communities/Bristol Group
The rental homes will be available in three- and four- bedroom floor plans and come equipped with a two-car garage, front and back yards, quartz countertops, stainless steel appliances, and LED lighting.
With the project based only one mile west of Loop 1604, the area is a fast-growing submarket with other new housing developments, including the one of the nation’s top selling master-planned communities Alamo Ranch. An estimated 350,000 jobs in technology, banking, health, and military are within a 25-minute drive of Pradera.
“Build-to-rent communities are in high demand among numerous renter demographics and we don’t expect that demand to wane anytime soon, especially in burgeoning areas like San Antonio” says David Williams, managing director with Bristol Group. “As long as renters continue to demand better home options, we expect occupancies and ROI to remain strong going forward.”
