Tricon Residential and HHS Residential are teaming up on a project that will result in 166 new build-to-rent units in Saginaw, northwest of Dallas. Tricon is the owner and operator of the subdivision. HHS Residential is the builder. It’s HHS’s second go-around with Tricon. Tricon oversees 13 separate single-family rental home communities in Texas.

The construction on the new project, to be called Hardwick, just got underway. The first units are expected to be rented out in the summer of 2023.

Hardwick will feature homes with three and four-bedroom options, a recreation center, picnic area, playground and pool.

With rising interest rates, Tricon’s Andrew Carmody says rental homes are becoming a popular option, “At the end of the day, we think it’s incredibly important to make single-family homes available to families that maybe can’t afford to buy a home, or perhaps don’t want to buy a house for a variety of reasons.