The build-to-rent neighborhood is adjacent to Marvida’s planned amenity village.
Clay Residential, an affiliate of locally based firm Clay Development, has broken ground on Willow at Marvida, a 368-unit single-family rental project in the northwestern Houston suburb of Cypress. The site is located within Marvida, an 856-acre master-planned community by Land Tejas. The development will consist of 134 detached homes and 234 attached villas.
More build-to-rent neighborhoods are taking shape in the Houston area, providing new options for renters who want a suburban lifestyle without the mortgage or maintenance of homeownership.
Houston developer Robert Clay, a major player in industrial real estate, is expanding into the single-family “build-to-rent” sector.
Willow at Sierra Vista in Iowa Colony will be Clay Residential’s first development.
The popularity of the build-to-rent real estate market, in which developers build communities of new homes to be leased, has soared in recent years as renters — like traditional buyers — seek more space in the suburbs.