With housing prices escalating due to higher interest rates, potential homebuyers are putting off plans to buy. For now, renting a house is the next best option. Houston-based real estate investor Urban Genesis recently started work on a slew of build-to-rent homes in Stone Oak. The project will have a mix of one, two and three-bedroom units and the rents were being targeted at a number 20-40% lower than the cost of buying a similar home.

Called Oasis at Stone Oak, the company has begun work on the 284-unit community. The San Antonio Business Journal reports the firm — working with Connecticut real estate investor Grandview Partners as a strategic partner — recently received a $46.3 million loan from U.S. Bank to help finance the project. A company spokesman said the remainder of the cost of building the homes would be funded from equity.

Addison, Texas-based design firm HEDK Architects is attached to the project.

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