The Pandemic has changed a lot of things. Luckily, the Single-Family Rental (SFR) Industry seems to be “bullet proof,” even during the pandemic. As a leader in Single-Family Build-for-Rent (SFBFR), WB has experienced more positive changes.
The number of leases signed increased by 70% after COVID-19 hit Texas. Comparing the first half of 2020 with that of 2019：
- The number of new leases executed has increased by 508%
- The number of home completions has increased by 198%
- And, the number of new homes under construction has increased by 107%.
To meet the growing lifestyle demand of people who prefer to rent, WB is set to deliver a total of 300 homes in 2020 and another 1,000 in 2021!
Wan Bridge will be launching “W Box,” a facility for tenants to enjoy in WB’s single-family communities. At W Box, tenants can meet their neighbors, have delicious meals, practice yoga, host parties…simply put, it is a shared space for families to enjoy life. The first W Box will be built in The Residences at Rayzor Ranch in Denton, Texas.
“National SFR rents rose 4.3% YOY in April 2020. We forecast SFR rents to grow 1% in 2020, rebound to 2% in 2021, 3% in 2022, and 4% in 2023. Given the tremendous job losses to date, our forecast seems quite bullish.”
– John Burns Real Estate Consulting
2020 Q2 Progress at WB
A total of 10 homes have been completed in The Oaks at Suncreek Estates (Rosharon, TX)
More than 75% of the homes have been completed now in Mirror Lake (Pearland, TX)
Roof decking and masonry work have been completed on most homes at Regent Square Brownstones (Kingwood, TX)
Many homes are completed and occupied in The Villas at Kings Harbor (Kingwood, TX)
Utility construction has been started in Pradera Oaks (Rosharon, TX)
Utility construction is well under way in The Residences at Rayzor Ranch (Denton, TX)
WB is all about Practical Innovation in our tenant-focused approach to planning and design. Our communities incorporate the types of amenities that people enjoy and use because our Design Team understands and appreciates the Millennial mindset. For example, incorporating 4 bedrooms, 3.5 bathrooms and tons of kitchen storage all in 1,800 SF of living area is a significant accomplishment. More importantly, this living area still feels spacious; and, our Design Team has now created 67 smart floorplans!
June 26th marked Kevin Stuckey’s three-year anniversary with WB! His wisdom and diligence have inspired many of us. Congrats, Kevin!
Many more good years to come!