A study on the North Texas suburb of Rowlett finds a growing need for housing options as the population in the region continues to reach top growth rates each year. In the area there is an expected demand for 55,000+ housing units over the next 20 years based on the state of Rowlett’s current economic and population growth. This need for housing has Texas property developers investing in the region to build out single family house, housing complexes and rental communities.
One market with a growing demand is in apartment rentals which will increase to an expected 15,000 units by 2039. This spark in the area’s value has property developers investing in all forms of housing projects, many with construction already in the works. Leading Texas property firm Western Rim Properties has recently completed two new Rowlett projects earlier this year that will introduce nearly 1,000 units combined. The properties that opened their doors in spring 2019 are positioned around Rowlett’s popular Lakefront destination of Lake Hubbard, home to some of the city’s most desirable real estate for both developers and residents.
Along with these Rowlett additions, another one of the projects for WRP in the area, The Mansions at Bayside is a 448-unit property started development in early 2018 and is expected to begin renting this fall. Described as a luxury, urban-style community, The Mansions is also positioned on the shores of Lake Ray Hubbard and will offer unique housing options that Rowlett has not previously had. Situated just 19 miles northeast of Dallas, the suburb community is tucked between the city of Garland and Lake Ray Hubbard and gains its popularity after the network of business and professional opportunities the community has fostered for its residents.
“Rowlett, Texas is one of the many locations across the state that is experiencing a growing interest from a diverse group of demographics who want to live in close proximity to large metro areas while also benefiting from community style suburbs.” shares Western Rim Properties’ CEO and Founder, Marcus Hiles.
A city that was reported to have over $1 billion in property development projects last year alone, Rowlett continues to become a magnet for those looking for the city meets suburb lifestyle in an area that presents long-term opportunity. With rising property values, housing availability and the benefits that come with living around the DFW metroplex, Rowlett is bringing in more investors and residents and will only continue to grow as its position in the state’s economy rises.