Tricon Viridian adds new high-quality professionally managed rental homes at affordable prices to a high-demand market

Opening adds nearly 1,100 new homes completed or under development in Texas over the past three years

Arlington, TEXAS (July 15, 2025) – Tricon Residential Inc., a Blackstone Real Estate portfolio company, today announced the grand opening of Tricon Viridian, a new built-to-rent (BTR) community of 46 professionally managed rental homes in Arlington, Texas. This community is part of Tricon’s efforts to expand access to high-quality single-family living where the monthly cost of owning a home in a comparable neighborhood is 40% higher. The opening of Tricon Viridian brings the total number of build-to-rent (BTR) homes delivered or in development by Tricon in Texas to nearly 1,100 homes.

At a time when homeownership is increasingly out of reach and the U.S. faces a shortage of 4-5 million homes, Tricon Viridian will deliver new single-family homes in a great neighborhood, with easy access to excellent schools, job centers, and essential community resources at an accessible price point. Tricon Viridian is the newest addition to the growing Viridian master-planned community, a 2,500-acre mixed-use community in Arlington which offers residents robust amenities.

Delivering New Housing Supply in a High-Demand Market
Located in Arlington, Texas, just 25 miles west of Dallas and 15 minutes from Dallas-Fort Worth International Airport, Tricon Viridian will offer 46 new single-family homes featuring:

  • Modern farmhouse-inspired design
  • Spacious three- and four-bedroom layouts
  • Two-car garages and fully fenced backyards
  • Granite countertops, stainless steel appliances, and luxury vinyl flooring 
  • Less than 5 miles from excellent local elementary, junior high, and high schools
  • Access to Viridian master-planned community amenities and events

“Cities like Arlington are experiencing rapid growth as families move in search of new opportunities. As the region enjoys economic and population growth, Tricon is proud to help meet the demand for housing with this thoughtfully planned community of high-quality single-family rental homes. Tricon Viridian offers families the space and privacy of a detached home, along with access to outstanding amenities, excellent-rated schools, and strong employment centers—all without the financial burden of traditional homeownership,” said Andrew Carmody, Senior Managing Director at Tricon Residential.

“Arlington welcomes Tricon Residential as they address the urgent need for more housing options in our community,” said Arlington Mayor Jim Ross. “Tricon Viridian supports economic growth in our area by enabling families to access professionally managed homes, great schools, and job opportunities. We’re thrilled to add this much-needed high-quality housing in our fast-growing city.”

David O’Neill, Managing Director at Blackstone Real Estate said, “Blackstone and Tricon are thrilled to add thousands of high-quality and professionally managed homes in Texas and across America, enhancing and expanding housing supply and providing families with access to the housing options at rents meaningfully below the monthly cost of homeownership. Tricon Viridian and other communities in our development pipeline make single-family living more attainable for people across the state and country.”

Blackstone invested $15 million to bring this community to life. The project is being developed in partnership with HHS Residential and Johnson Development.

“HHS Residential is proud to work with Tricon to bring Tricon Viridian to Arlington,” said Matthew McGhee, Vice President at HHS Residential. “This thoughtfully designed community meets the critical need for housing in the Dallas-Fort Worth area while allowing families to unlock the benefits of single-family living without the financial barriers of traditional homeownership. We’re proud to bring more housing options to a high-demand community.”

*Viridian Master-Planned Community
Tricon Viridian sits within a larger master-planned community (MPC) called Viridian, a thriving 2,500-acre mixed-use community offering expansive amenities. This vibrant community features an onsite elementary school and daycare, resort-style pools, parks and playgrounds, hiking and bike trails, tennis courts, a sailing center, a pavilion and amphitheater, and more.

Tricon’s Resident Bill of Rights
Tricon is proudly resident-centric, offering an industry-leading Bill of Rights for families in our communities. This is a first-of-its-kind approach among single-family rental housing providers in the United States, which outlines Tricon’s commitment to providing quality, move-in-ready homes with caring and reliable service.

Tricon’s Commitment to Residents
As part of Tricon’s commitment to supporting its residents, Tricon Viridian 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.

About Tricon Residential Inc.
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.

Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has US $320 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). 

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 https://hhsresidential.com/.

Johnson Development
Johnson Development Corp., a nationally recognized leader in residential and commercial land development, is celebrating 50 years of creating award-winning communities. Since 1975, Johnson Development has set the standard for innovative design, exceptional amenities, and lasting value, establishing some of the nation’s most sought-after master-planned communities across Houston, Dallas-Fort Worth, Austin and Atlanta.

With a legacy of excellence, the company’s portfolio includes signature communities such as Sienna, Riverstone, Cross Creek Ranch, Woodforest, Viridian and Lake Arrowhead, among others. Johnson Development remains dedicated to shaping vibrant, sustainable places where families, businesses and communities thrive. For more information, visit www.johnsondevelopment.com.

For further information, please contact:
Media Relations, MediaRelations@TriconResidential.com