A new luxury build-to-rent community with 343 units is coming to the Collin County town of Melissa. Welker Properties announced the $95 million Wolf Creek Farms development that will bring 343 luxury, Class-A rental units to a 32-acre tract between US-75 and the Sam Rayburn Tollway.
The new development shows how Welker Properties is doubling down on the build-to-rent concept in Dallas-Fort Worth. Available units will be single-family detached homes with private yards and a maintenance-free lifestyle, plus all the amenities available to Class-A apartment renters. The gated community will have a resort-style pool, dog park, fitness center, resident lounge, multiple open courtyards, and wifi in all common areas and units.
“In the past 10 years, Dallas-Fort Worth’s population has increased by more than 20 percent, creating an increased need for housing,” said Andrew Welker, Founder and CEO of Welker Properties. “This project is designed with best-in-class specialists to create a community that optimizes resident satisfaction across generations.”
This is the latest in a growing trend toward build-to-rent communities in the North Texas area. Stillwater Capital is developing a luxury build-to-rent community at the PGA headquarters in Frisco, Arizona-based builder Taylor Morrison announced a build-to-rent community in Melissa last year, Provident Realty Advisors announced a Garland development just 16 months ago, NexMetro recently opened a Fort Worth build-to-rent community, and Perch homes by Good + West is coming to Denton and Fort Worth.
One of the big draws of suburban build-to-rent communities is the access to high-quality schools, shopping, and local amenities. With this addition to the Melissa rental landscape, more people will be able to live near McKinney Town Square, The Star in Frisco, and the Shops at Legacy.
“Luxury BTR communities are emerging throughout the United States, especially in the Sunbelt markets,” Welker said in a press release. “As these areas increase in popularity, we are proud to prioritize BTR communities that provide residents with high-quality living and the opportunity to experience everything Melissa has to offer without the long-term commitment of homeownership.”
Welker Properties plans to begin construction of the Melissa community in the fall of 2023 with development taking place over the next two years and projected completion by the end of 2025.
