Beacon Residential featured in Austin American-Statesman
Subdivision Planned In Manor Will Bring More Than 100 Townhomes For Rent East Of Austin
Shonda Novak, Austin-American-Statesman
A firm focused on building homes for rent is expanding across Texas, with plans to launch a fifth community in the Austin region. Beacon Residential said the project, which would be its second subdivision in Manor, will bring more than 100 townhomes to the fast-growing suburb east of Austin.
Beacon Residential's new rental homes will add supply to a market with an ongoing need for more housing of all types in Central Texas.
Beacon is a new build-to-rent brand from Toronto-based Great Gulf Group. In the Austin area, Beacon has existing projects in Kyle, Maxwell, Pflugerville and Manor.
The company builds in rapidly growing areas and has 16 communities in all. Nine are in the leasing stages, with several more expected to break ground this year, including the new one planned for Manor.
Within the past three years, Beacon says the company and its investors have committed $260million of their $400 million target to more than 2,300 for-lease units in those 16 projects, which are in the metro areas of Austin, San Antonio, Houston, Dallas, Charleston, Orlando and Tampa.
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