Hines picked up nearly 3,000 acres in southeast Texas for a 7,000-home community in Fort Bend County.
The property, south of FM 1093 and east of Fulshear, represents one of the largest land acquisitions in the company’s history, the Houston Business Journal reported. The Houston-based developer, led by chairman and CEO Jeffrey Hines, bought the land in December for an undisclosed price.
Homes in the community are expected to be priced between $400,000 and over $1 million. Construction is slated to begin this quarter, with the first lots ready for homebuilders by 2027.
Homebuilders attached to the project include Toll Brothers, Perry Homes and Highland Homes. Civil engineering work will be managed by Vogler & Spencer.
Hines entered an agreement with Fort Bend County to finance infrastructure improvements, such as extending Texas Heritage Parkway through the community.
The developer will fund the improvements upfront and be reimbursed by the municipal utility district over time.
The community will feature amenities including a 5-acre recreation center. Residents will also have access to hike-and-bike trails winding through 800 acres of natural features such as oxbow lakes.
This is Hines’ most ambitious master-planned project since First Colony in Sugar Land, which began development in 1976. The company, known for its focus on commercial real estate during the 1980s, returned to residential development in 2005 and has since completed 26 communities in the Southwest.
Texas has become a top market for master-planned communities. The Houston area is experiencing a surge in master-planned communities, with developments such as McCord’s Generation Park, a 4,300-acre community in northeast Houston, and Sunterra Lakes, a 1,500-acre project by Starwood Land northwest of downtown.
— Andrew Terrell
Read more
Signorelli’s Valley Ranch adds 57-acre mixed-use project
Johnson Development adding higher ed to master-planned community
D.R. Horton crushes expectations with $7.6B in revenue
