Tricon Viridian adds new high-quality professionally managed rental homes at affordable prices to a high-demand market
Opening adds nearly 1,100 new homes completed or under development in Texas over the past three years
Arlington, TEXAS (July 15, 2025) – Tricon Residential Inc., a Blackstone Real Estate portfolio company, today announced the grand opening of Tricon Viridian, a new built-to-rent (BTR) community of 46 professionally managed rental homes in Arlington, Texas. This community is part of Tricon’s efforts to expand access to high-quality single-family living where the monthly cost of owning a home in a comparable neighborhood is 40% higher. The opening of Tricon Viridian brings the total number of build-to-rent (BTR) homes delivered or in development by Tricon in Texas to nearly 1,100 homes.
At a time when homeownership is increasingly out of reach and the U.S. faces a shortage of 4-5 million homes, Tricon Viridian will deliver new single-family homes in a great neighborhood, with easy access to excellent schools, job centers, and essential community resources at an accessible price point. Tricon Viridian is the newest addition to the growing Viridian master-planned community, a 2,500-acre mixed-use community in Arlington which offers residents robust amenities.
Delivering New Housing Supply in a High-Demand Market
Located in Arlington, Texas, just 25 miles west of Dallas and 15 minutes from Dallas-Fort Worth International Airport, Tricon Viridian will offer 46 new single-family homes featuring:
- Modern farmhouse-inspired design
- Spacious three- and four-bedroom layouts
- Two-car garages and fully fenced backyards
- Granite countertops, stainless steel appliances, and luxury vinyl flooring
- Less than 5 miles from excellent local elementary, junior high, and high schools
- Access to Viridian master-planned community amenities and events
“Cities like Arlington are experiencing rapid growth as families move in search of new opportunities. As the region enjoys economic and population growth, Tricon is proud to help meet the demand for housing with this thoughtfully planned community of high-quality single-family rental homes. Tricon Viridian offers families the space and privacy of a detached home, along with access to outstanding amenities, excellent-rated schools, and strong employment centers—all without the financial burden of traditional homeownership,” said Andrew Carmody, Senior Managing Director at Tricon Residential.
“Arlington welcomes Tricon Residential as they address the urgent need for more housing options in our community,” said Arlington Mayor Jim Ross. “Tricon Viridian supports economic growth in our area by enabling families to access professionally managed homes, great schools, and job opportunities. We’re thrilled to add this much-needed high-quality housing in our fast-growing city.”
David O’Neill, Managing Director at Blackstone Real Estate said, “Blackstone and Tricon are thrilled to add thousands of high-quality and professionally managed homes in Texas and across America, enhancing and expanding housing supply and providing families with access to the housing options at rents meaningfully below the monthly cost of homeownership. Tricon Viridian and other communities in our development pipeline make single-family living more attainable for people across the state and country.”
Blackstone invested $15 million to bring this community to life. The project is being developed in partnership with HHS Residential and Johnson Development.
“HHS Residential is proud to work with Tricon to bring Tricon Viridian to Arlington,” said Matthew McGhee, Vice President at HHS Residential. “This thoughtfully designed community meets the critical need for housing in the Dallas-Fort Worth area while allowing families to unlock the benefits of single-family living without the financial barriers of traditional homeownership. We’re proud to bring more housing options to a high-demand community.”
*Viridian Master-Planned Community
Tricon Viridian sits within a larger master-planned community (MPC) called Viridian, a thriving 2,500-acre mixed-use community offering expansive amenities. This vibrant community features an onsite elementary school and daycare, resort-style pools, parks and playgrounds, hiking and bike trails, tennis courts, a sailing center, a pavilion and amphitheater, and more.
