Although teacher residency programs (TRPs) are increasing in prevalence, the scholarly literature on these programs has not been systematically synthesized to demonstrate consensus regarding benefits of teacher residency programs for teacher preparation over traditional models. This literature review provides a textual narrative synthesis of empirical research on teacher residencies from 2014-2019 and summarizes features of TRPs, including "enhanced mentoring," "immersive resident learning," and a "transformative third space" for teacher preparation. The literature synthesis confirmed that TRPs have the potential to transform teacher preparation and improve upon university-school partnerships to bolster theory-to-practice connections. As TRPs innovated and developed their residency programs, the reflective process was essential.