Tricon Winchester brings 180 high-quality, professionally managed single-family rental homes to address housing needs in the region
Opening marks Tricon’s 8th BTR community in California, part of an investment pipeline of 5,500 homes delivered or under development nationwide
Winchester, California (March 25, 2026) – Tricon, a Blackstone Real Estate portfolio company, today announced the grand opening of Tricon Winchester, a premier built-to-rent (BTR) community in Riverside County, California. The 180-home development offers families the benefits of single-family living at a monthly cost significantly lower than homeownership, supported by professional on-site management. Tricon Winchester 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. As the U.S. faces an estimated 4–5 million home shortfall, demand for attainable, high-quality housing has grown. Tricon Winchester was designed to meet that need for households seeking single-family living close to schools, jobs, and everyday services. With this opening, Tricon has launched 8 new BTR communities in California and invested in a pipeline of 5,500 new rental community homes delivered or under development nationwide.
The community offers three- and four-bedroom homes featuring:
- Spacious bedrooms with oversized closets, attached two-car garages, and fully fenced backyards
- Gourmet kitchens with luxury countertops, stainless steel appliances, and dishwashers
- Smart-home technology with automatic thermostat control and keyless front door entry
“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. At Tricon Winchester, residents can enjoy a new, professionally managed home with a yard, garage, and modern finishes, while maintaining the financial flexibility that renting provides. Tricon is building homes in places where families want to be, near strong schools and job markets, because where you live is foundational to your success and wellbeing.”
“Blackstone and Tricon are committed to expanding and enhancing America’s housing supply by delivering thousands of new homes within high-quality, professionally managed built-to-rent communities,” said David O’Neill, Managing Director at Blackstone Real Estate. “Blackstone Real Estate and its partners have invested over $92 million to help bring Tricon Winchester to life, enabling more families to access the space, amenities, and neighborhood advantages of single-family-living – and at a monthly cost that is meaningfully lower than buying in today’s market.”
“From the beginning, our focus was on creating homes that residents would feel proud to live in, said Andrew Murphy, President at Woodbridge Pacific Group. This site has long been vacant, giving us the opportunity to thoughtfully introduce new housing to the community. Together with Tricon, we prioritized livable floorplans, private outdoor space, and integrated smart home technology designed to make life more convenient for residents.”
“Addressing the housing shortage requires bold action and a clear vision for our communities,” said Supervisor Chuck Washington. “I am proud to welcome 180 new high-quality homes that expand access and create meaningful housing opportunities for our residents. This development represents an important step toward ensuring Riverside County remains a place where people can live, work, and thrive.”
Tricon Winchester is supported by Tricon’s dedicated Resident App and on-site management teams that simplify day-to-day living. The community is also located near well-regarded schools, giving families access to strong educational options within the Inland Empire.
The Value of BTR Communities
Tricon’s communities are designed to expand access to single-family living, offering an alternative for families who are seeking single-family living but are not in a position to buy. Research from Harvard economist Dr. Raj Chetty highlights the critical role neighborhoods play in shaping long-term wellbeing, including future earnings, education, and health outcomes. Tricon’s BTR communities reflect this approach by placing residents within reach of strong schools, amenities, and jobs, providing opportunities without the upfront financial burden of homeownership.
Tricon’s Resident Bill of Rights
Tricon is proudly resident-centric, offering an industry-leading Bill of Rights for families in our communities. This is a first-of-its-kind approach among single-family rental housing providers in the United States, which outlines Tricon’s commitment to providing quality, move-in-ready homes with caring and reliable service.
Tricon’s Commitment to Residents
As part of Tricon’s commitment to supporting its residents, Tricon Winchester residents will have access to Tricon Vantage, a suite of resources designed to help them realize their financial goals and enhance their financial well-being. These include:
- Free Credit Builder Program – Enables residents to build their credit history by reporting on-time rent payments to the three major credit bureaus.
- Financial Coaching and Literacy Programs – Offers residents financial education resources, including one-on-one coaching and workshops.
- Resident Down Payment Assistance Program – Provides eligible residents with $5,000 toward a down payment on a home anywhere in the U.S.
About Tricon
Tricon is an owner, operator and developer of single-family rental homes in the U.S. and multi-family apartments in Canada. Our commitment to enriching the lives of our employees, residents and local communities underpins Tricon’s culture and business philosophy. We provide high-quality rental housing options for families across the United States and Canada through our technology-enabled operating platform and dedicated on-the-ground operating teams. Our development programs are also delivering thousands of new rental homes and apartments as part of our commitment to help solve the housing supply shortage. At Tricon, we imagine a world where housing unlocks life’s potential. For more information, visit www.triconhomes.com.
Woodbridge Pacific Group
Woodbridge Pacific Group is California’s premier builder and developer of high-quality purpose-built rental home communities. Built on the core values of integrity, excellence, teamwork, and respect, we focus on exceptional locations, efficient and graceful designs, along with market-driven resident amenities. Management has decades of experience in building tens of thousands of homes for families and households in the West. We are currently delivering over 1,000 rental homes in key California markets, with several new projects in our development pipeline.
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has US $319 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, data centers, residential, office and hospitality. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ business invests in substantially stabilized real estate assets globally, through both institutional strategies and strategies tailored for income-focused individual investors, including Blackstone Real Estate Income Trust, Inc. (BREIT). Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).
For further information, please contact:
Media Relations, MediaRelations@TriconHomes.com
