“We don’t have very aggressive leasing windows. The leasing strategy will be approached like a single-family community as opposed to an apartment complex. and not feel like they’re moving into a senior housing facility,” he said in an interview. “We’re really trying to go after the barbell of demand for neighborhoods such as the Stone Oak school district and submarket where we’re able to offer more of an attainable home for someone that’s essentially looking to enter their first home or a downsizing baby boomer looking for the conveniences of a renting model. Exact rents weren’t given, though Shafiezadeh indicated that average rents would be an average of 20% to 40% lower than the monthly cost of homeownership in the Stone Oak submarket. The unit mix will be 40% one-bedroom, 20% two-bedroom and 40% three-bedroom. He said the houses in this community will be “alley-served” as opposed to having street-facing garages. Urban Genesis CEO Matt Shafiezadeh told the Business Journal that the rest of the project would be funded with an undisclosed amount of equity. The firm - working with Connecticut real estate investor Grandview Partners as a strategic partner - recently received a $46.3 million loan from U.S. Houston-based real estate investor Urban Genesis recently broke ground on a crop of build-to-rent homes in Stone Oak.ĭubbed Oasis at Stone Oak, the company is starting vertical work on the 284-unit community. SAN ANTONIO – Another build-to-rent development is underway in the San Antonio area.Īs the cost of housing and the elevation of interest rates turn some off of homebuying, more developers are working to supply a product that emulates home living with the flexibility of an apartment.

Renting a baby doppler