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It’s no secret that urban sprawl in Texas has been a major source of private equity investment in the real estate industry over the past decade. In particular, the rise of build-for-rent (BFR) communities- in which developers provide home buyers a turnkey model to turn their homes into vacation rentals- has become the prevailing blueprint underpinning the expansion.
This trend has been driven in part by the increasing demand for vacation rentals, as more and more people are looking for flexible and affordable travel options. Build-for-rent communities offer a solution to this demand, allowing homeowners to easily and effectively turn their homes into vacation rentals when they are not using them. This model has proven to be particularly popular in Texas, which has seen a surge in tourism in recent years due to its warm climate, diverse landscape, and vibrant culture.
Trailblazing the suburban growth has been one of Austin’s most precocious real estate developers, Ari Rastegar. The forward-looking real estate investor is well known for his futuristic, technologically integrated home designs.
Ari and his Rastegar Property Company just inked a deal to launch a new 318-acre build-for-rent mixed-use community in Kyle, Texas. Located at 700 Bunton, Kyle, Texas, Rastegar’s new development project is set to build over 1,000 single-family homes for rent, 1,400 apartment units, an 11-acre elementary school compound, and 60 acres of green space.
The homes, school, and commercial space on site will come fully equipped with IoT appliances, security systems, the newest entertainment devices, eco-friendly solutions such as electric chargers in garages, and geofence-based home control apps.
The build-for-rent (BFR) model has proven to be a successful and lucrative source of investment in the real estate industry in Texas over the past decade. These communities offer a turnkey solution for home buyers looking to transform their properties into vacation rentals, meeting the growing demand for flexible and affordable travel options. The state of Texas, with its warm climate, diverse landscape, and vibrant culture, has particularly benefited from the surge in tourism driven by the rise of BFR communities. In addition to providing a new source of income for homeowners, these communities also contribute to the local economy through the construction of new infrastructure and services to support the influx of tourists. Overall, the BFR model has had a positive impact on the real estate market in Texas, and is likely to continue shaping the landscape in the coming years.
700 Bunton Project not only serves as Rastegar’s largest urban development to date but also doubles as the honed blueprint that the Rastegar Property Company plans to lean on as it continues to shape cityscapes across the Sunbelt.
Rastegar’s vision for these “tech forward micro cities” is to create a cohesive and interconnected community that is able to adapt to the rapidly changing needs of modern life. By integrating cutting-edge technology into every aspect of the development, Rastegar hopes to create a community that is both efficient and sustainable.
In addition to the high-tech amenities, Rastegar’s development in Kyle will also include a variety of recreational and social spaces. This includes a large community center, multiple parks and playgrounds, and even a farmer’s market. These spaces will not only provide residents with a place to relax and unwind, but also a place to come together and build a sense of community.
As more and more people continue to move to the Sunbelt region in search of affordable housing and a better quality of life, Rastegar’s tech forward micro cities may very well become the model for urban development in the future. By prioritizing technology, sustainability, and community, these developments offer a glimpse into what the future of urban living could look like.
Conclusion
Ari Rastegar’s tech forward micro cities are shaping the future of the Sunbelt region, offering a glimpse into what urban living could look like in the coming years. Through the integration of cutting-edge technology and a focus on sustainability and community, Rastegar’s developments are poised to meet the evolving needs of modern life. The success of the build-for-rent model in Texas is a testament to the increasing demand for flexible and affordable housing options, and Rastegar’s 700 Bunton project is poised to set the standard for future urban developments in the Sunbelt region and beyond.
