Tricon, a Blackstone Real Estate portfolio company, held the grand opening of Tricon Winchester, a build-to-rent (BTR) community in Riverside County. The 180-home development is part of the company’s broader effort to expand access to single-family rentals in quality neighborhoods.
Tricon Winchester was developed in partnership with Foremost Pacific Group on vacant land, transforming an underutilized site into much-needed housing for families in the Inland Empire. Tricon has now launched eight new BTR communities in California and invested in a pipeline of 5,500 new rental community homes delivered or under development nationwide.
“Families want the space and stability of a single-family home, but in today’s market, the monthly cost of owning often puts that out of reach,” said Andrew Carmody, senior managing director at Tricon. “In the Inland Empire, owning a home can cost roughly 40% more per month than renting a comparable home. Tricon helps to bridge that gap.”
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