Construction Starts on 5,000 BTR Homes, Market briefs

In Houston, RSK Real Estate Partners has purchased land west of Houston where it will launch its “5/5/5” initiative to build 5,000 Built-To-Rent residences in top Sunbelt markets within five years.

Houston is listed as one of the growth markets targeted by the Chicago-based developer for its aggressive BTR construction surge.

“The 555 Initiative will stay focused on markets that have experienced tremendous growth in rent, population, and commercial development in recent years. These markets include Houston, Dallas, San Antonio, Raleigh, Orlando and Jacksonville,” RSK says on its website.

In Rsk Real Estate Partners purchased 9.4 acres to develop a build, to-rent community with 156 duplex homes near the Market at Katy Park, north of Interstate 10 and west of the Grand Parkway.

Matthew Davis and Kristen McDade of Cushman & Wakefield represented Morton Ranch Development LLC, the seller and developer of the 158,171-SF Market at Katy Park. The H-E-B-anchored retail center is fully leased.

“It’s an awesome site to kick off RSK’s long-term development goal. To be quite honest, the dynamics of this location have set the developer’s bar high for future land decisions,” says Rick Ragan, vice president of NewQuest who partnered with Glenn Dickerson, senior vice president and development partner, to represent the buyer.

RSK’s project is set to feature 103 three-bedroom units and 53 two-bedroom designs, averaging 1,600 SF. The developer anticipates the buildings will start to deliver in late Q2 2026.

“RSK’s build-to-rent duplex project is expecting a high yield with the rents that we will be able to achieve with this specialty product,” Ragan says. “There is enough demand for more rental units, given the commercial and residential growth in northwest Katy.”

Single-family communities dominate the growth in the immediate area. Another 25,000 homes are on the drawing board for a neighborhood with the 100-acre Katy Park as the centerpiece.

RSK has developed for-rent projects throughout the Houston market. The developments, though, were smaller in scale.

“RSK has officially closed its first big deal with two other sites in escrow and multiple LOI’s under negotiation,” Ragan says. “Having a track record is going to be pivotal moving forward. We are all excited for the future.”