Florida company buys land for Fort Worth rental communities
A Florida builder is heading to Fort Worth with plans to build more than 1,200 rental units.
DLP Capital, a St. Augustine-based real estate investment and finance firm, just purchased two lots in Fort Worth for the projects.
The developer has purchased land in south Fort Worth on Shelby Road and Rendon Roads where it will build a 643-unit single-family home community called Orchard Farms.
And DLP Capital acquired an apartment building site on Marine Creek Lake at 5201 Shadydell Drive in North Fort Worth. The Mansion at Marine Creek rental community will have 638 apartments.
“We are excited to provide single and multi-family home communities in Fort Worth,” DLP Capital Founder and CEO Don Wenner said in a statement. “There is a growing demand for affordable workforce housing for rent across the country, and DLP will be able to provide the region
The builder plans to build the rental homes in three phases over the next two to three years.
“Our goal at DLP is to be the national leader in developing rental home communities,” Wenner said. “Through our experience, we understand the value that rental home communities like these can have on the community as a whole.
“We look forward to continuing our investments in thriving and growing cities like Fort Worth.”
Single family rental homes have been one of the fastest growing segments of the North Texas housing market.
In 2021, Dallas-Fort Worth builders started 3,885 rental homes, or about 7% of total single-family home construction, according to Residential Strategies.