Dallas-based real estate development company Welker Properties announced a new built-to-rent development called Wolf Creek Farm in Melissa, Texas. According to a company's official statement, the gated community development in Collin County will be located between I-75 and Sam Rayburn Tollway.
Andrew Welker, founder and CEO of Welker Properties, cited the Dallas-Fort Worth population growth as one of the reasons the company decided to move forward with the project, despite today’s macroeconomic environment causing other developers in the real estate industry to hesitate.
"In the past 10 years, Dallas-Fort Worth's population has increased by more than 20%, creating an increased need for housing," said Welker in a statement. "This project is designed with best-in-class specialists to create a community that optimizes resident satisfaction across generations."
Welker Properties doubled down on its resources to build and provide housing options for Collin County residents.
“I’m just really proud that our team is able to push forward and be able to put the debt and equity together and get a project of this size done because I feel like we’ll be rewarded because there’s still a housing shortage,” Welker told The Dallas Morning News.
The project will feature detached units complete with their own private yards and first-class community amenities such as a resort-style pool, a dog park, a fitness center, a resident lounge, multiple open courtyards, Wi-Fi in all common areas and units, and controlled property access, all with the flexibility and maintenance free living that comes with living at a Class-A apartment. Additionally, renters will have the option to choose between units with one and two car garages to cottage-style homes with the opportunity to rent a detached garage.
"Luxury BTR communities are emerging throughout the United States, especially in the Sunbelt markets,” continued Welker. “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.”
The company will begin construction in the fall of 2023 and expects to complete the project by the end of 2025.
