A hybrid residential development concept is ready to open in the Fort Worth market.
Pheonix, Arizona-based developer NexMetro Communities has plans to bring more than 500 homes to three different Fort Worth neighborhoods within the next year.
The luxury residential developments will offer features similar to typical housing plans, like private backyards, front porches, high ceilings, granite countertops, stainless steel appliances and hard-surface flooring.
But unlike any other Fort Worth developments, the residential communities are “built-to-rent.” Avilla Homes are single-family housing available for leasing, a housing trend sweeping across the nation as house prices skyrockets as more consumers prefer the ease that the rental lifestyle presents.
Avilla Reserve – the first of the three NexMetro Communities leased-home neighborhoods coming to Fort Worth market – will open Nov. 18. The community is located in the southwest corner of Holland Hill Lane and Hwy 114 in Justin bordering far north Fort Worth near Texas Motor Speedway.
“Fort Worth is an ideal market for our Avilla luxury leased communities given the city’s key demand drivers, including job and income growth, household growth, supply, demand and high occupancy rates,” said Ryan Griffis managing director of NexMetro Communities in Dallas-Fort Worth. “Build to rent is growing nationwide faster than any other type of real estate, with the demand for this lifestyle far exceeding the supply.”
With 227 single-family rental units, Avilla Reserve will be the first such residential concept to open in Fort Worth.
Avilla Fossil Creek in the northern part of Fort Worth with 112 homes is currently under construction and slated to open in Spring 2021. Avilla Trails, located next to Chisholm Trail Pkwy in south Fort Worth, will have 230 homes and scheduled for a fall 2021 opening.
All communities will offer one-, two- and three-bedroom home floorplans. The locations will be professionally managed with on-site maintenance, offering residents a carefree living experience, according to NexMetro.
Garages, covered parking and amenities such as a resort-style pool and spa, hot tubs, outdoor grills, open spaces and dog parks, among other facilities.
“New build single-family rentals like Avilla are a definite fixture in the residential real estate market, and Fort Worth is at the forefront of planning for these ‘best of both worlds’ neighborhoods that appeal to a diverse group of consumers – from professional millennials to baby boomers,” Griffis said.
NexMetro has 14 leased-housing projects throughout Texas that includes 2,200 homes that have been completed or are currently under construction in the North Texas market.
A NexMetro Avilla community opened in Grand Prairie in the summer of 2019. It was followed by plans to open another rental home community in McKinney.