Tricon Trinity Falls and Tricon Peek Road add over 300 high-quality professionally managed single-family rental homes at affordable prices in a high-demand market
Brings total new homes in Texas developed by Tricon to over 600 this year
Katy & McKinney, Texas (April 3, 2025) – Tricon Residential Inc., a Blackstone Real Estate portfolio company, today announced the grand opening of two new built-to-rent communities of professionally managed single-family rental homes in Texas: Tricon Trinity Falls in the Dallas-Fort Worth area and Tricon Peek Road in the Houston metropolitan area.
The U.S. is facing a shortage of an estimated 4-5 million homes, driving up costs and making it harder for families to find housing in well resourced neighborhoods. These communities expand access to high-quality, affordable rental options in great neighborhoods, with access to good schools, job centers, and essential community resources at a monthly cost well below that of homeownership.
Delivering New Affordable Rental Housing Supply in a High-Demand Market
Tricon Trinity Falls offers 126 new single-family homes in McKinney, Texas. Tricon Peek Road offers 175 new single-family homes in Katy, Texas. Both communities feature:
- One- and two-story home options
- Spacious three- and four-bedroom layouts
- Two-car garages and fully-fenced backyards
- Modern finishes and high-quality design
“Tricon Trinity Falls and Tricon Peek Road address Texas’ critical need for high-quality housing options during this period of economic and population growth, when it has become nearly impossible for so many Americans to become homeowners. We’re proud to introduce these new built-to-rent communities, which will help meet the significant demand for affordable rental housing options in the Dallas-Fort Worth and Houston metropolitan markets. Our professionally managed communities offer families access to thriving neighborhoods with excellent schools, abundant job opportunities, and desirable amenities—all at prices significantly below the cost of homeownership,” said Andrew Carmody, Senior Managing Director at Tricon Residential.
“Tricon Trinity Falls represents the kind of high-quality housing our fast-growing city needs,” said McKinney Mayor George Fuller. “This community will give McKinney families access to professionally managed homes, excellent schools, and job opportunities—all while supporting our continued economic growth. We welcome Tricon Residential and look forward to working together to meet the housing needs of our city.”
These new developments build on Tricon and Blackstone’s continued investment in Texas. In September, Tricon opened new communities in Leander and Tomball, which added over 300 new single-family rental homes to Texas’ housing supply. Together, these pivotal new communities enrich the state’s supply of homes and help bring down rental prices in these high-growth markets.
Ryan Ingle, Senior Managing Director at Blackstone Real Estate, said, “Blackstone and Tricon are committed to helping address America’s housing supply shortage through strategic investments that expand access to high-quality neighborhoods at prices well below the monthly cost of homeownership. Tricon Trinity Falls and Tricon Peek Road exemplify our mission to develop professionally managed communities that provide families with the benefits of single-family living.”
The projects were developed in partnership with HHS Residential.
“HHS Residential is proud to partner with Tricon on the Trinity Falls and Peek Road communities, which have been thoughtfully designed to meet the critical housing needs of McKinney and Katy families,” said Matthew McGhee, Vice President at HHS Residential. “These developments combine premier home quality with professional management, creating a pathway for families to access quality neighborhoods, excellent schools, and community amenities without the financial barriers of traditional homeownership.”
Johnson Development also partnered with Tricon to develop Tricon Peek Road.
The Value of Built-to-Rent Communities
Tricon’s built-to-rent communities are designed to expand access to single-family living, offering an alternative for families who can afford to rent but are not in a position to buy, or those who prefer the flexibility of renting. Research from Harvard economist Dr. Raj Chetty highlights how living in well-resourced neighborhoods significantly impacts long-term success. Tricon’s BTR developments provide families the opportunity to live in these neighborhoods without the upfront financial burden of homeownership.
Tricon’s Commitment to Residents
As part of Tricon’s commitment to supporting its residents, Tricon Peek Road residents will have access to Tricon Vantage, a suite of resources designed to help them realize their financial goals and enhance their financial well-being. These include:
- Free Credit Builder Program – Enables residents to build their credit history by reporting on-time rent payments to the three major credit bureaus.
- Resident Down Payment Assistance Program – Provides eligible residents with $5,000 toward a down payment on a home anywhere in the U.S.
- Financial Coaching and Literacy Programs – Offers residents financial education resources, including one-on-one coaching and workshops.
Tricon Residential is an owner, operator and developer of single-family rental homes in the U.S. and multi-family apartments in Canada. Our commitment to enriching the lives of our employees, residents and local communities underpins Tricon’s culture and business philosophy. We provide high-quality rental housing options for families across the United States and Canada through our technology-enabled operating platform and dedicated on-the-ground operating teams. Our development programs are also delivering thousands of new rental homes and apartments as part of our commitment to help solve the housing supply shortage. At Tricon, we imagine a world where housing unlocks life’s potential. For more information, visit www.triconresidential.com.
About HHS Residential
A part of the Highland Homes family and founded in 2019, HHS Residential operates in all high-growth Texas markets and provides turnkey build-to-rent options in the growing market of single-family rental homes. From community infrastructure and development to amenity and home construction, HHS Residential has streamlined the build-to-rent process to be efficient, profitable, and seamless. With designs that resonate with today’s families and complement the lifestyle vision of our developer partners, HHS Residential brings the same quality craftmanship and exceptional service for which Highland Homes is known. An employee-owned company, the HHS Residential team is personally invested in getting results for our partners. For more information, visit hhsresidential.com.
About Johnson Development
Established in 1975, Johnson Development Corp. is operating as a Houston-based, award-winning residential and commercial land development company. For the past five decades, the company continues to set the standard for successful master-planned communities across Houston, Dallas-Fort Worth, Austin, and Atlanta. With a growing portfolio encompassing more than 80,000 residential units and 16.7 million square feet of retail and commercial space on 47,500 acres, Johnson Development is actively creating communities that celebrate life. Their developments are featuring thousands of acres of parks, open spaces, lakes, wetlands, and hundreds of miles of walking trails, along with amenities such as water parks, clubhouses, and expansive sports parks. Currently employing approximately 100 industry professionals, the company ranks among the nation’s top residential developers, with numerous communities appearing among the top-selling master-planned communities over the past decade. Johnson Development is committed to continuing its legacy of excellence in community creation. For more information, visit www.johnsondevelopment.com.
About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has US $315 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, data centers, residential, office and hospitality. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ business invests in substantially stabilized real estate assets globally, through both institutional strategies and strategies tailored for income-focused individual investors including Blackstone Real Estate Income Trust, Inc. (BREIT). Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).
For further information, please contact:
Media Relations, MediaRelations@TriconResidential.com