Company has acquired a 38-acre site upon which to build the new rental home community
SAN ANTONIO, TX (July 6, 2022) – AHV Communities (AHV), the leader in Built-for-Rent® single-family (SFR) and attached home rental communities, today announced it will deliver a community of 157 single-family detached rental homes in McKinney, Texas. The company has acquired a 38-acre site for the community and ground-breaking and land development is expected to commence in early 2023.
“The AHV Communities team is thrilled to bring one of our luxury communities of true single-family detached homes to the Dallas metro region,” says Mark Wolf, co-founder and CEO of AHV Communities. “We believe this superior location within McKinney is a perfect location for our thoughtfully designed and enviably amenitized selection of rental homes.”
Like all AHV Master Planned Rental Communities™, the new rental homes will be presented in a contiguous community and will be professionally managed and maintained onsite – both key differentiators of AHV’s Built-for-Rent® community model. The community will offer a variety of floor plans, showcasing residences in the modern style. The three- and four-bedroom rentals will include direct access two-car garages, state-of-the-art appliance packages, private enclosed backyard spaces and sustainable and smart home features.
The community itself will be outfitted with a robust amenity package including a resort-style pool with sundeck, 24-hour tech fitness center, dog park, pet washing station, bocce/game court, BBQ and picnic areas, clubhouse and more. Professional, onsite management staff will enable hassle-free living.
“All of our rental communities are designed to attract quality residents and are well cared for to ensure marketability, long-term success and enduring value for the city,” adds Wolf.
The new rental home community will be built along US 380, proximate to both downtown McKinney and Frisco, as well as a short 35-minute distance via automobile to downtown Dallas. The site location is just down the street from the area’s major retail intersection, which is flanked by a Walmart-anchored shopping center as well as McKinney’s first Whole Foods, which is scheduled to break ground in the coming months. Additionally, the new headquarters for Professional Golfers Association of America is located just minutes away.
The future single-family rental community is also just 20 minutes from Plano’s Legacy business park, a master-planned business and retail complex which supports numerous regional and national company headquarters operations within more than 33 million square feet. The business park boasts a marquee roster of employers including JPMorgan Chase, Capital One Finance, Bank of America, Toyota Motor North America, Liberty Mutual Insurance, USAA, PepsiCo, and Boeing Global Services.
“As a company, we are highly strategic about where we build, evaluating each community location’s prospects for years to come,” says Wolf. “The site of this new community is exceptional. The North Dallas submarket is becoming home to a vast number migrating into Texas from other states. And, like other cities in Texas, metro Dallas is experiencing heightened demand for quality rental housing options, especially as so many are getting priced out of the for-sale home marketplace due to rising interest rates.”
AHV Communities anticipates vertical construction to begin in early 2024.
News of the new single-family rental community follows two recent AHV Communities’ announcements, the first being that it has added four new executives to its senior leadership team to broaden AHV’s national presence and vertically-integrated execution capabilities across it’s rapidly growing portfolio, which currently includes 20 communities across six states, representing over $1.25 billion in assets under management. The newly appointed executives include Luke Massar, chief financial officer; Micheal Seiden, general counsel and chief legal officer; Anthony Del Grippo, executive vice president of investments; and Nader Adley, senior vice president of national supply chain management.
AHV, in conjunction with McWhinney, also recently announced it is co-developing Built-for-Rent® homes at McWhinney’s 1,100-acre Baseline community in Broomfield, Colorado and at Kinston, within the 3,000-acre Centerra master-planned community in Loveland, Colorado.
AHV Communities’ geographic footprint, including both operational and under development communities, now spans the states of California, Washington, Colorado, Texas, Tennessee and Alabama.
“The growth and development momentum of AHV Communities continues, despite the shifting residential market,” adds Wolf. “We anticipate that soon we will operate communities coast-to-coast.”
For more information about AHV Communities’ team, communities, business model and more, visit www.ahvcommunities.com.
About AHV Communities
AHV Communities (“AHV”) is a privately held developer, builder, operator and industry leader in Built-for-Rent® luxury single-family and attached rental communities. AHV Master Planned Rental Communities™ serve renters in premium supply constrained markets with quality constructed and well amenitized rental homes set within contiguous communities. All AHV communities are managed and maintained onsite, ensuring long-term asset quality and a stronger value proposition for renters, cities and investors alike. AHV Communities is responsible for the delivery of 5,000 homes and lots with a value over $1.5 billion. AHV Communities is based in San Antonio, Texas. Visit www.ahvcommunities.com.