American Housing Ventures has acquired 80 acres of agricultural land east of the Austin airport to build single family homes to rent in a growing national trend of build-to-rent ventures that investors are seeing.
The company plans to own the homes for the long term and management them, Mark Wolf, CEO of American Housing Ventures told the Austin Business Journal.
American Housing Ventures, LLC (“AHV”) is a privately held and funded real estate development and investment management firm based in Newport Beach, CA. AHV is focused on developing and building sustainable communities of high quality eco-friendly homes.
This is part of the continuing trend real estate investors have seen in the buy-to-rent space with projects also underway outside Atlanta and in southern California. It also follows the national trend of the U.S. becoming more of a renter nation.
“People no longer have to worry about saving for an expensive down payment in order to live the American Dream,” Wolf said.
Wolf told the Austin Business Journal he believes his company can succeed with this out-of-the-box product, even as huge institutional buyers have been buying single family homes around the country and leasing them. “We don’t think anyone has ever done this to this magnitude or quality,” Wolf said.
“We’ve been in the multifamily business for years and know how to make this work,” Wolf said. Wolf said the homes will be built with high quality materials — such as granite counter tops and European cabinetry — and be three- or four-bedroom detached units.
The company is also building single family homes in San Antonio and in another location in Austin.
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