Are Luxury RV Parks The Next Big Thing in Vacation Properties? Provident Realty Advisors Thinks So

In a completely new venture for Provident Realty Advisors, the company has launched a new partnership with Trez Capital that will bring two new luxury RV parks to Texas. The RV parks, which will be located in San Antonio by Lake Calveras and in the North Texas suburb of Burleson near Fort Worth, will have a whole host of amenities that cater to the demands of even the most discerning vacationers and even those who have found a home on the road.

Branded as Roaming Trails RV Retreat, or RTRV for short, Provident is filling the demand for best-in-class RV accommodations throughout the state of Texas. RTRV Burleson is 15 minutes south of downtown Fort Worth and will have 196 pads on 22 acres, while RTRV Lake Calaveras off US Highway 181 will have 215 pads on 42 acres.

The communities will be gated concrete streets and open spaces with room to park extra vehicles at every pad, back-in and pull-through spots, privacy fenced yards, and weatherproof covers. Community amenities include resort pools, package lockers, dog parks, and digital fiber internet — things you’ll most often find in upscale multifamily developments.

The concept of the amenity-rich luxury RV resort has grown in recent years, with more and more developments coming online in areas near national parks and other outdoor attractions. And as more and more work-from-anywhere professionals choose full-time life on the road, the demand for safe places to park for long periods has likewise increased.

“We are excited to launch a new platform within the Provident portfolio,” said Stuart Fink, Provident’s managing director of investments. “Provident is known for discovering a market need and developing to meet that need. As a result of the pandemic creating new travel and work patterns, Provident will provide the housing supply these demanding travelers require. RTRV will be a unique investment platform that we feel will excel in the RV park market.”

RTRV marks Trez Capital’s first venture into RV park financing as an asset class, but the parks are Trez Capital’s sixth and seventh projects they have financed with PRA. Provident is well known for its projects throughout North Texas, including the wildly successful Preston Hollow Village development.

“We are thrilled to be entering into this asset class with Provident Realty Advisors, a strong and experienced developer that remains forward-thinking in its approach to finding new, solid opportunities and turning them into successful community developments,” said Grant Morrow, vice president of origination for Trez Capital, Central & Southwestern. “RV parks are no longer just for vacationers. There has been an influx of travelers and workers looking for a flexible environment that provides all the amenities offered in traditional multifamily communities. RTRV parks have nearby access to major employment and shopping centers, and provide conveniences, facility design and utility upgrades that other RV parks don’t, including 100 percent concrete parking and sanitary sewer hook-ups in addition to electric.”

Construction on both parks is estimated to begin in quarter four of 2023.