The real estate investment and land asset-management company has identified 17 near-term development opportunities and is in advanced negotiations to develop build-to-rent communities with about 2,500 units across the country.

The seasonally adjusted estimate of new houses for sale at the end of May was 330,000, representing a supply of 5.1 months at the current sales rate, the U.S. Census Bureau and the Department of Housing and Urban Development reported.

Single-family housing starts were up 4.2% from April and 49.8% from May 2020, at 1,098,000, according to the U.S. Census Bureau and Department of Housing and Urban Development.

The developer plans to turn the land into an agrarian-inspired residential community and approximately 1,200 homes are expected.

The NAHB attributed the monthly increase in its construction spending index to single-family construction and single-family improvements, both of which rose by 2% on a monthly basis. Multifamily construction, meanwhile, declined 0.3% after falling 0.9% in February.

The builder has started home sales in Mandola Farms in the Richmond area and is set to begin building The Highlands, a new master-planned community in Porter.

Newmark Homes and Tri Pointe Homes, two of the nine builders at Cross Creek Ranch, will be offering homes designed for 45-foot homesites, ranging from the $320,000s to $340,000s.

Led by builders Devon Street Homes and Colina Homes, Rosehill Meadows will span 51 acres and include approximately 250 homesites, ranging from $220,000s to $300,000s.

The new model home park will showcase nine new model homes in the master-planned Sienna community’s Village of Sienna Oaks.

Construction of Starling is expected to be completed by summer 2022.

The project, located adjacent to Angleton High School, will be named Windrose Green. 

When complete, the $39.35 million community will feature 192 new apartment homes for families seeking housing in the Channelview area. 

Construction on the 700-home community in Magnolia will begin in 2022.

The Canopy at Springwoods Village is Fein’s third multifamily property developed within the community.

The gap between sales and construction reached a record high in 2020, which likely means a slowing down in sales and growth in construction in 2021, according to a year-end report by the National Association of Home Builders.

Pre-leasing for the 163-home Balmoral neighborhood began Dec. 15 and initial occupancy is planned for March 1, 2021.