Austin, Texas-based Aspen Heights Partners, a vertically integrated developer, builder, and community operator, announced the launch of Bell Yard, a single-family home brand. The new brand’s unveiling coincides with Aspen’s acquisition of 36 acres in the Hutto suburb of Austin, where it will develop its first Bell Yard community, according to a press release from Aspen Heights.
Aspen Heights, known in part for its country-style homes launched in 2006, is launching the Bell Yard brand amid increased US demand for high-quality rental options. Over the past decade, the company has developed 24 country-style rental properties in 13 states with a total of 14,844 beds and 4,582 units. With the addition of its Bell Yard brand, Aspen Heights has developed a robust single-family rental pipeline of more than 1,000 contracted homes in Austin and the surrounding area and an additional 400 homes in North Carolina valued at $ 440 million.
“Our company’s roots were formed by identifying new needs in the housing industry and quickly taking action to create dedicated communities that meet those needs,” said Greg Henry, Founder and CEO of Aspen Heights. “Right now there is an incredible demand for single family home rental options of various ages who are looking for space, comfort, and privacy, but want to retain the service, amenities, and flexibility to which they have become accustomed. Our diverse teams are all well researched and to the needs and wants of today’s renters, and we believe we are in a unique position to meet demand in key US markets. “
The artisan-influenced architecture, which combines modern design with nostalgic charm, is the hallmark of Aspen Heights’ flagship brand and forms the core of Bell Yard’s community concept, the companies report. Aspen Heights’ first Bell Yard parish in Hutto will include 219 two-, three-, and four-bedroom homes with attached garages, modern interiors and designer furnishings, complemented by a range of resort-style amenities.
To oversee the growth of the Bell Yard brand, Aspen Heights hired industry veteran Michael Bates as its EVP of Development earlier this year. Bates worked closely with TC Selman, VP of Aspen Heights, to find various locations across Texas.
As DS News frequently reported in 2021, rental housing, whose sector has remained stable with a small market share in recent years, has potential for immediate growth due to several factors that play a role in today’s market.