Construction on a community of 195 single-family, build-to-rent homes in Denton is complete, project developers said Tuesday.
Nearly one-third of the cottage-style homes at Perch Denton are already occupied, and substantially all certificates of occupancy have been issued. The 18-acre development, at 2205 N. Bonnie Brae St., includes a mix of one-, two- and three-bedroom homes that average 1,005 square feet.
As of April 3, rent prices at Perch Denton ranged from $1,695 to $2,820, according to the development’s website.
Virginia-based Capital Square partnered with Austin’s Good + West Residential and Dallas-based real estate investment firm Montgomery Street Partners as co-developers on the Perch Denton project.
Good + West is led by Dallas native Elizabeth Good and David West. The duo met as developers with Austin firm Cypress Real Estate Advisors. West grew up in England but lived in North Texas for a couple of years after attending Texas Wesleyan University in the late ‘90s, the DMN previously reported.
“Denton and its neighboring counties have experienced outsized population and job growth. Capital Square is pleased to help alleviate the shortage of quality housing with the delivery of 195 new single-family homes,” Whitson Huffman, Capital Square’s co-chief executive officer, said in a statement. “Leasing activity has been strong, and we are exceeding our projections for realized rents, underscoring our belief that the Dallas Metroplex is an ideal market for high-quality build-for-rent communities like Perch Denton.”
Another North Texas project under the Perch banner is the 319-unit Perch Chisholm Trail in south Fort Worth. The development is expected to be a collection of garden-style apartments, cottages and townhomes at the intersection of McPherson and Brewer boulevards, Good + West told The Dallas Morning News last January. Phase one of the project is coming in 2025, according to Perch’s website.
The Dallas-Fort Worth area is one of the nation’s most popular markets for build-to-rent units. As of December 2023, more than 8,000 build-to-rent units were under construction in D-FW. Only Phoenix ranked higher, according to data from NorthMarq.
