Core Spaces is taking a deep dive into the build-to-rent world, after mostly focusing on student housing developments throughout its 13-year history.
The Chicago-based firm started construction on Oxenfree, a 400-plus home community about 45 miles northeast of Dallas, in Princeton, with the first batch of homes slated for delivery in April 2024, according to a news release.
Oxenfree marks the debut development of Core Spaces’ BTR brand, which it launched in 2020. The company plans to build more BTR communities in North Texas down the road, along with cities like Austin, San Antonio, Nashville, Chicago and Denver.
Oxenfree’s 408 homes will comprise a blend of single-family homes and townhomes, featuring three architectural styles: modern farmhouse, warm industrial and contemporary.
A planned amenity center, dubbed the Fieldhouse, will include a coworking area, health club, market, social lounge, kids’ playroom and a pool. The community will also have plenty of green space and is near Lake Lavon.
Wisconsin-based Treehouse Builders is at the helm of construction, while Northworks Architects and Digibilt lead design duties.
Build-to-rent developments have exploded in popularity in recent years, as people seek single-family homes in the suburbs with yards and better public resources, without the burden of owning a home.
“As more generations make the conscious shift from city to suburban living, the single-family
home sector is poised for greater disruption and growth than has ever been possible,” Core Spaces president Dan Goldberg said.
Core Spaces also plans to build a 140-home BTR community in Glenview, just outside Chicago, where it is seeking local zoning approval.
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