A new rental community with 348 apartments and houses just opened its doors in Red Oak, Texas, about 20 miles south of downtown Dallas, offering tours and immediate move-ins starting this week. The development, called Halden at Red Oak, sits just off Highway 342 and blends traditional apartment living with single-family rental homes on the same property.
The project comes from real estate giant Greystar and investment firm Whitman Peterson, who announced the opening in a joint release, as reported by globenewswire.com. The citybiz report that first flagged the opening, published Monday, described the community as a mix of one- and two-bedroom apartments alongside three- and four-bedroom homes, now welcoming residents, conducting property tours and offering immediate move-ins.
Kendall Hatch, a director at Greystar, said in the announcement that the team designed the property with outdoor recreation in mind while keeping it close to the metro area. “We're excited to open the doors to residents at Halden at Red Oak,” Hatch said, according to the release. Hatch added that the development's pond and trails offer a nature retreat within a short drive of Dallas.
A Pond Restored at the City's Request
One of the community's centerpieces is a restored fishing pond that the release says Greystar preserved and improved at the city of Red Oak's request. The pond now includes piers and a paved trail that loops around the water, and it's described as available for public recreational use by residents and the broader Red Oak community, not just tenants.
Beyond the pond, the property packs in a long list of shared amenities: a community lounge with a business center and micro conference rooms, a 24-hour fitness center, a resort-style pool with a tanning shelf, a sun deck with games, an outdoor terrace with a firepit, and an outdoor grilling and dining kitchen. There are also nature trails, open lawn space, and separate dog parks for smaller and larger dogs, plus EV charging stations, garages, covered parking and storage. High-speed Wi-Fi runs throughout the community, and two future retail spaces are planned near the entrance.
Inside the units, residences feature granite countertops, kitchen prep islands, GE stainless steel appliances and built-in pantries, along with soaking garden tubs, large windows and full-sized washers and dryers. The single-family homes add keyless entry, smart thermostats, and USB and USB-C outlets, while select residences include double vanities, utility rooms, private patios or balconies and large fenced yards.
Location Near Parks and Shopping
Halden at Red Oak sits near Watkins Park and the Waxahachie Sports Complex, and it's within driving distance of Waxahachie Marketplace and the B&B Theatres Red Oak 12, per the release.
A Long-Running Development Partnership
The project is the latest from a partnership that stretches back 16 years. Greystar and Whitman Peterson have been strategic partners since Whitman Peterson's formation in 2010 and have invested together in more than 175 individual real estate assets spanning multifamily housing, active adult communities, student housing and logistics properties, according to the release. Whitman Peterson, based in the greater Los Angeles area, focuses on partnerships with established real estate operating companies and has completed more than 300 investments across its funds involving more than $30 billion in total capitalization.
Greystar, headquartered in Charleston, South Carolina, was founded by Bob Faith in 1993 and now manages and operates approximately $350 billion of real estate across more than 265 markets worldwide, with more than $80 billion in assets under management across its investment platforms. The company manages more than one million apartment units and beds globally and provides property management, investment management, development and construction services. Halden at Red Oak expands the two firms' residential portfolio in the Dallas area.
How It Fits the Broader Dallas-Fort Worth Market
The opening arrives as the Dallas-Fort Worth multifamily market shows signs of steadying after a rough stretch. The Dallas/Fort Worth market continued to stabilize during the second quarter of 2026, supported by moderating supply pressures and healthy leasing activity across the metro, according to Cushman & Wakefield. Net absorption in the metro reached just over 10,800 units that quarter, the strongest quarterly demand performance since the third quarter of 2021, while deliveries totaled just over 6,600 units, well below the quarterly average of 9,000 units delivered between 2023 and 2024. Stabilized vacancy improved to 9.6%, down 30 basis points from the prior quarter.
Earlier in the year, Dallas-Fort Worth recorded approximately 8,500 units of net absorption in the first quarter, about 1,000 more units than were delivered, with Class A rents posting a 3.2% year-over-year increase, the fifth consecutive quarter of annual gains, per Northmarq. Still, the statewide picture carries caution: a pandemic-era surge in multifamily construction created an oversupply nationally and in many Texas markets, pushing vacancy rates up and rents down, and the Federal Reserve Bank of Dallas has noted that Dallas has seen one of the sharpest rent declines among major Texas metros. Landlord concessions are expected to continue through mid-2026, restraining rent growth even as demand fundamentals improve, according to the Dallas Fed.
Statewide, Texas apartment deliveries are forecast to total fewer than 35,000 units through the end of 2026, a 1.4% increase in inventory, with multifamily rent growth expected to remain soft over that same period, according to the Texas Real Estate Research Center. Researchers project a gradual resumption of rent growth in late 2026 and 2027 as new-unit deliveries continue to moderate, though progress is expected to be uneven across markets.
