KILLEEN, TX -The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, in partnership with The City of Killeen Public Facility Corporation (PFC), J.P. Morgan, and Texas Capital Bank, celebrated the grand opening of Station42, a 368-unit mixed-income multifamily project in Killeen, Texas.
Station42 showcases NRP’s dedication to offering quality housing for Central Texas residents at all income levels, with a focus on the “missing middle” who face challenges affording market-rate rents amid the region’s rapid population growth. To meet this demand, more than half of the property s units are reserved for residents earning less than 80 percent of the area median income (AMI).
“It’s an honor to play a role in the revitalization of North Killeen while providing high-quality housing for members of the military, young professionals, and working families,” said Parker White, Vice President of Development at the NRP Group. Collaborating with the City of Killeen is a privilege, and we look forward to contributing to the city’s continued growth and prosperity.”
Located near the corner of W.S. Young Drive and East Veterans Memorial Boulevard, adjacent to Conder Park, Station42 boasts a robust onsite amenities package. Residents will have access to a 24-hour fitness center, club room, gaming area, kitchen and dining space, and a coworking lounge space complete with two tech-enabled conference rooms. The development s outdoor amenities include a dog park and entertainment area with dining space, a resort-style pool and a grilling deck. A package concierge and private, detached parking garages with EV charging stations are also available. The property is in proximity to Killeen s historic downtown.
In-unit finishes include keyless fob entry, in-suite washers and dryers, LED backlit mirrors, built-in USB ports, and, in select units, balconies are available. Kitchens feature stainless steel appliances, maple white quartz countertops, white brick kitchen backsplashes, undermount sinks and under-cabinet kitchen lighting.
We are thrilled to celebrate Station42 which brings a new dimension to our community but also presents a unique affordability opportunity for our constituents, said Jessica Gonzalez, Killeen City Council Member District #1. Station42 stands as a robust economic driver, and I believe it will significantly enhance the well-being of our residents while concurrently diversifying the range of housing options in Killeen. It s gorgeous to have the finished product here in our neighborhood.
Killeen has a population of nearly 160,000, making it the 19th-most populous city in Texas and the largest of the three principal cities of Bell County. Due to the city s proximity to Fort Cavazos, Killeen s local economy is interconnected with the activities of the post, and the soldiers and their families stationed there.
Station 42 signifies growth, revitalization and progress, said Kent Cagle, Killeen City Manager. It will also help reinforce our Killeen 2040 Comprehensive Plot, with its proximity to our Historic Downtown, as the goal is to continue to build up the downtown district and the surrounding neighborhoods, which is critical to the city s fiscal health. We ve made investing into the north side neighborhoods a priority.
J.P. Morgan partnered with The NRP Group to provide equity investment in the project, while construction financing was provided by Texas Property Bank.

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MIDLOTHIAN, VA – Middleburg Communities announced it has secured financing from Simmons Bank to start construction of Hamlet Falling Creek, a 260-unit build-to-rent community to be developed along Genito Road in Midlothian, Virginia about 20 minutes southwest of Downtown Richmond. The project marks Middleburg s second build-to-rent community in Midlothian, joining Hamlet Watkins Centre, which is currently under construction.
We are excited to develop Hamlet Falling Creek, which, together with Hamlet Watkins Centre, will set the standard for what build-to-rent living in Richmond is all about, said Robin Bettarel, Managing Director of Development for Middleburg s Mid-Atlantic Region. This type of community is highly appealing to all types of lifestyles – families, individuals, empty nesters – as it provides the opportunity to reside in a high-quality, meticulously maintained neighborhood without the burden of property upkeep or maintenance.
Part of an approximately 100-acre master plot including for-sale homes and townhomes, retail, and preserved wetlands, Hamlet Falling Creek will offer one-, two- and three-bedroom cottages, duplexes and townhomes for rent. Like Hamlet Watkins Centre, the community will provide a truly differentiated living experience, with luxury finishes in every home, a best-in-class amenity package and a pedestrian-friendly neighborhood design. Situated between Route-288, Powhite Parkway, and Hull Street Road, the property s location offers simple access to Downtown Richmond and 530,000 jobs within a 30-minute drive. The site is located in the highly-rated Chesterfield County school district and is part of the Genito Road/288 Corridor improvement plot, which includes landmark projects such as the recent expansion of the RiverCity sportsplex and The Lake, a massive surf-park anchored development currently under construction.
Selim Tay-Agbozo, President of Middleburg Development, stated, The Richmond MSA possesses many of the fundamentals that drive our investment decisions. It continues to benefit from strong population growth as a result of its robust business climate, top-tier school and health systems, and desirable quality of life. On top of that, the availability of single-family homes available for buy or rent in the area is at historic lows, and we look forward to helping fill that gap with the development of these two communities.
Hamlet Falling Creek will offer renters a new rental experience blending the amenities and professional management of a Class-A apartment community with the welcoming feel of a neighborhood. All residences will feature stainless steel Energy Star appliances, quartz countertops, luxury vinyl plank flooring, 9 ceilings, private patios with yard space, and more. Shared amenities include a resort-style pool, fitness center, dog park, several pocket parks and shared green spaces, co-working booths, EV charging stations and extensive pedestrian walkways.
Middleburg expects the first units at Hamlet Falling Creek to be completed in late-2025. Middleburg currently has six built-to-rent communities under construction in Richmond, Charlotte, Charleston, Jacksonville, Huntsville, and Wilmington.

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HOUSTON, TX – Sunstone Two Tree, a developer and operator of rental housing communities in high-growth markets throughout the United States, announced that it has bought a 384-unit multifamily apartment property in Houston, Texas, with plans to fully renovate the community. The company bought the property, located on Elmside Dr. in the Westchase neighborhood of Houston, Texas for $28.9M and will spend $10.5 million on upgrades. Sunstone Two Tree is handling the construction, which has already started, with an anticipated completion date in 2025.
“Houston continues to experience strong job and population growth as evidenced by ranking fifth in the nation in terms of relocations from other cities. Despite construction in recent years, demand has kept vacancies below ten percent in the market,” said Scott Maddux, President of Sunstone Two Tree. “Workforce rental housing appeals to the largest segment of today’s renter market and has proven to be extremely resilient, even during periods of economic uncertainty. We’re pleased to continue our work in Houston to bring high-quality, comfortable, safe and attainable housing to the area.”
The Villas Del Paseo community was built in 1978 and has received few improvements over the years. Sunstone Two Tree will manage a top-to-bottom upgrade of the asset, renovating the interiors of all 384 units with high-quality flooring, hard-surface counters, updated lighting, stainless steel appliances and new cabinetry. On the exterior, it will invest in new paint, do a full roof replacement, add/enhance exterior lighting, improve the landscaping and signage, and repair the balconies and parking lot. It will also update the clubhouse and pool and add dog parks and barbeque areas. The renovations will take place in two phases. The first will include the 144 units east of Elmside Drive, with the remaining 240 being completed in phase two.
Villas Del Paseo is well-positioned to serve the workforce housing community in Houston. It is conveniently located in Westchase, 13 miles from Downton Houston and 20 miles from the William P. Leisure activity Airport. It is 9 miles from the Energy Corridor, 4 miles from the Memorial City Mall and 3.5 Miles from the Memorial Hermann Hospital. It is also close to the headquarters of several major employers in the area.
Sunstone Two Tree bought Villas Del Paseo from Comunidad Partners, which has managed the property since 2019. Matt Saunders with Newmark represented the seller. In addition to the Villas del Paseo community, Sunstone Two Tree owns Commons at Westchase, a 282-unit property located 1.3 miles west of Villas Del Paseo, on which it executed a value-add business plot. The company also bought Village at Westchase, a 462-unit value-add property in 2016, which it sold in April 2022.
Sunstone Two Tree is an acquirer, developer and operator of attainable rental housing communities in high growth markets across the United States. Since its inception in 2012, it has bought or developed thousands of rental units across the country.

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