Featured Photo: A concept picture for the design of Aspen Heights’ cottage style units, the Bell Yard.
Posted: 9-16-2021
Hutto (Williamson County) — An Austin developer has announced the purchase of a 36-acre site to develop a single-family rental community.
Aspen Heights Partners–a vertically integrated developer and operator of lifestyle-oriented residential communities–bought the site to roll out their new brand, Bell Yard, according to a press release.
Aspen Heights is known for cottage-style housing projects that they pioneered in 2006.
The Bell Yard brand launch comes amid heightened demand throughout the United States for high-quality rental options, according to the company.
Over the last decade, Aspen Heights has developed 24 cottage-style rental properties across 13 states totaling 14,844 beds and 4,582 units.
The craftsman influenced architecture that combines modern design with nostalgic charm is the signature of Aspen Heights’ flagship brand and at the core of the Bell Yard community concept.
Aspen Heights’ first Bell Yard community in Hutto will have 219 cottages in a mix of two, three, and four-bedroom units with attached garages, modern interiors and designer finishes, complemented by an assortment of resort-style amenities.
With the addition of its Bell Yard brand, Aspen Heights has developed a vigorous single-family rental pipeline, with more than 1,000 homes under contract in Austin and the surrounding region.
Along with an additional 400 homes in North Carolina, they have a total value of $440 million.
The Bell Yard home will be a stand-alone unit and include a fully fenced backyard with landscaping and walking paths throughout the community.
The Bell Yard homes will be designed to serve the needs of today’s renters with an elevated features package, which will come standard in each house including touchscreen thermostats, energy efficient lighting and high-bandwidth cabling, according to the company.
“The roots of our company were formed by identifying emerging needs within the housing industry and taking swift action to create purpose-built communities that fulfill those needs,” said Greg Henry, founder and CEO of Aspen Heights.
“There’s incredible demand right now for single-family rental options from various age groups who are seeking space, comfort and privacy, but want to maintain the service, amenities and flexibility they’ve grown accustomed to. Our various teams are all well researched and informed to the needs and desires of today’s renters, and we believe we’re uniquely positioned to help meet the demand in key markets through the US.”
To oversee the growth of the Bell Yard brand, Aspen Heights hired industry veteran Michael Bates earlier this year to serve as executive vice president of development. Bates has worked closely with T.C. Selman, Aspen Heights’ vice president, to source various sites across Texas.
The firm has developed the 685-foot-tall, 363-unit condo tower, The Independent, the tallest structure in Austin.
The company was also recently awarded 12th and Red River, a redevelopment project that will transform the former Health-South rehabilitation facility in Downtown Austin into a 36-story residential tower, a 15-story office building with over 25,000 square feet of retail space and a half-acre elevated park.
VBX Project ID: 2021-69CB
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