Since opening in October 2023, The Homes at Wolf Creek in Overland Park, KS has seen strong leasing velocity, and we are proud to announce that the community is on track to reach full stabilization with 100% occupancy by year’s end. Month after month, demand has outpaced supply, confirming the significant need for single-family home rentals in the market. Our unique product has been overwhelmingly well-received by the community.
Peak Enterprises has embraced innovative construction methods, utilizing factory-built processes to create homes that are both affordable and high quality. This allows our team to expedite the development timeline while maintaining exceptional standards—ensuring we meet the rising demand for housing in the market.
Expanding Impact: Developments Underway in Dallas-Fort Worth
While The Homes at Wolf Creek is setting new benchmarks in Overland Park, Peak’s commitment to addressing the housing crisis extends far beyond Kansas. We’re currently in the process of developing four more communities in the Dallas-Fort Worth (DFW) area, where demand for new housing is sky-high. These developments will offer the same combination of efficiency and innovation that has proven so successful in Overland Park.
Contributing to a Historic Supply Boom
The numbers in the broader housing market paint a powerful picture of supply growth, and we’re proud to be part of this unprecedented expansion. While 2024 is seeing record completions of 438,259 units nationwide, The Homes at Wolf Creek is contributing in a unique way by offering a single-family alternative to the primarily multi-family apartment units driving these totals.
In Q3 2024 alone, nearly 163,000 rental apartment units were completed, a number larger than most full-year totals between 2003 and 2012. Although the focus on apartment construction dominates the national conversation, Peak is ensuring that affordable, efficient single-family housing options are available for those who prefer living within a community setting.
Sustained Growth and Future Potential
Looking ahead, 2024 is on track to see nearly 600,000 housing unit completions, the highest level since 1974. While much of this supply comes from traditional apartment construction, The Homes at Wolf Creek and our forthcoming DFW communities represent a vital part of the housing mix, offering diversity of choice in the market. With supply expected to taper off in late 2025 or early 2026, our developments are poised to play an even more critical role in meeting the ongoing housing demand.
Leasing Up and Looking Ahead
As we approach 12 months since beginning our lease-up process at The Homes at Wolf Creek, we are excited about the progress the community has made. With four additional communities in the DFW area currently under development, Peak is not only contributing to today’s historic supply levels, but also ensuring that families across the country have access to high-quality, affordable housing solutions—now and in the years to come.
To learn more about The Homes at Wolf Creek, visit www.thehomesatwolfcreek.com.
Media Inquiries:
Michaela Vartanian
Director of Marketing
816-652-0623
[email protected]
About Peak Enterprises
Peak Enterprises is a leading developer of factory-built multifamily housing projects across the United States. Committed to innovation and excellence, Peak Enterprises specializes in the acquisition, development, and management of high-quality factory-built, land lease, and build-to-rent communities. With a growing portfolio of projects, Peak Enterprises is dedicated to transforming the multifamily housing sector with superior solutions and exceptional service.