Ascendant Development has recently completed the construction of Preserve at Woodbridge, a 131-unit single-family rental community in Kingwood, Texas. The project was financed by a $21.2 million loan from Moody National Bank in 2021.
Preserve at Woodbridge offers one-, two-, and three-bedroom floorplans ranging from 668 to 1,255 square feet. These homes feature high ceilings, in-unit washers and dryers, walk-in closets with ceiling fans, as well as private patios and backyards. The community also boasts amenities such as a clubhouse, saltwater pool, fitness center with yoga studio , internet café ,and dog park.
Leasing for this project began earlier this summer and more than half of the units have already been preleased.
Although Houston’s Build-to-Rent sector is still expanding rapidly,the growth rate has slowed down by about two percent compared to previous highs,in terms of both occupancy rates and rental prices.
