Tricon Residential Inc., a Blackstone Real Estate portfolio company, announced the grand opening of Tricon Sunridge, a new built-to-rent (BTR) community of 114 professionally managed, energy efficient rental homes in the Sacramento area.
The U.S. currently faces a drastic housing shortage, needing 4-5 million units to keep up with demand. This is driving up costs and making it harder for families to find affordable housing in the neighborhoods where they want to live. Tricon Sunridge will expand access to high-quality, affordable single-family homes in great neighborhoods, with easy access to good schools, job centers, and essential community resources at a monthly cost well below that of homeownership.
Located in Rancho Cordova, just 25 minutes from downtown Sacramento, Tricon Sunridge will offer 114 new single-family homes featuring:
- Two-story home options with spacious three- and four-bedroom layouts
- Fully electric appliances, including solar panels and EV charging-compatible outlets
- Two-car garages and fully fenced backyards
- Modern finishes and high-quality design
- Proximity to neighborhood shopping and high-quality local elementary, middle, and high schools
“Tricon Sunridge is part of the solution to California’s housing shortage. We are proud to deliver this new community of high-quality and energy efficient homes for families in the Sacramento area, allowing them to access excellent schools, employment opportunities, and local amenities,” said Andrew Carmody, Senior Managing Director at Tricon Residential.
David O’Neill, Managing Director at Blackstone Real Estate said, “Blackstone and Tricon are committed to expanding and enhancing America’s housing supply by delivering thousands of high-quality, professionally managed built-to-rent communities in communities like Rancho Cordova. Tricon Sunridge will provide families in Northern California with access to a thoughtfully-designed neighborhood at rents well below the monthly cost of homeownership, making single-family living more attainable for more people across the state.”
Blackstone Real Estate invested nearly $60 million to bring this community to life. The project was developed in partnership with Sares Regis and Signature Homes.
“Sares Regis is thrilled to partner with Tricon and deliver this much-needed, all-electric community for families in Rancho Cordova, which will add much needed housing to California’s housing supply,” said Ken Busch, Director of Development at Sares Regis.
State Senator Roger Niello said, “I am excited for the grand opening of the Tricon Sunridge development in Rancho Cordova. California needs as many housing options as possible, and now more people will be able to call the fantastic community of Rancho Cordova home.”
