ATHENS, Ga — Landmark Properties announced today the second groundbreaking from its new “build-to-rent” (BTR) division focused on single-family rental home neighborhoods. Construction is scheduled to begin in October at The Everstead at Windrose in Spring, Texas. The project will be pursued in a partnership with Principal Real Estate Investors.
TSB Capital Advisors arranged financing for the project.
“Landmark is excited to kick off our partnership with Principal, and we look forward to developing a first-class neighborhood with The Everstead at Windrose,” said President and CEO of Landmark Properties, Wes Rogers. “With nearly 30 BTR projects in the pipeline, our fully-integrated platform is well-positioned to quickly expand our single-family rental portfolio despite the distress in capital markets.”
The Everstead at Windrose, located at 7801 Farm to Market 2920 in Spring, Texas, will add 194 townhouses, single-family homes, and cottage-style homes to the Houston area’s rental offerings. The gated community will provide residents access to high-quality, shared amenities, including a resort-style swimming pool, fitness center, playground, grilling area, dog park, hammock garden, Bocce Ball court, and coffee bar. There will be on-site parking with several spaces dedicated to guests. The development will incorporate sustainable features and is expected to achieve the National Green Building Standard Bronze Certification.
The homes will include quartz countertops, stainless-steel appliances, large pantries, hardwood-style floors, full-size washers and dryers, ceiling fans, a walk-in closet for the main bedroom, and a backyard with private patio. Some units will feature 10-foot ceilings and an attached garage or storage room. Situated in the north Houston suburb of Spring, The Everstead at Windrose provides residents proximity to several retail and entertainment areas, including The Woodlands, Tall Pines Amphitheater, Market Street, and the Woodland’s Children’s Museum. The community is expected to be completed in 2024.
“The neighborhood where The Everstead at Windrose is being developed is near a master planned community with single-family homes, award-winning schools, and attractive retail amenities,” said Blair Sweeney, Managing Director of Development for Landmark’s build-to-rent division. “We are excited to provide residents and their families an opportunity to live in a single-family style home in a compelling location while enjoying amenities and service typical of a condominium community.”
“This project fits our strategy of providing a high-quality housing solution at a reasonable cost to individuals and families desiring the benefits of a single-family home experience with the financial flexibility of being a renter,” said Jim Halliwell, Managing Director, real estate, Principal Global Investors. “We are delighted to partner with Landmark who shares our vision of creating aesthetically pleasing communities and curating a top-tier customer experience, in conjunction with a commitment to sustainability.”
Landmark’s build-to-rent division was established in 2021 and will bring more single-family homes on the market to meet current demand across the country. Landmark Construction serves as general contractor for this development project.
