Hines Acquires 3,000 Acres for Major Development in West Houston
Deal News | Jan 27, 2025 | Hines Interests LP
Global real estate investment manager, Hines, has acquired nearly 3,000 acres near Katy and Fulshear, Texas, to develop a master-planned community, marking one of its largest single-family development purchases. The development will feature over 7,000 homes with diverse lot sizes, partnering with major builders like Toll Brothers and Perry Homes. Construction is slated for 2025 with the first lots ready by 2027. This area, a rapidly growing part of the U.S., offers excellent connectivity to Houston's employment hubs and quality schools. Hines plans robust amenities, including a recreation center and extensive natural landscapes, and will complete a key segment of the Texas Heritage Parkway. The firm, with decades of development experience in Texas, continues to expand its footprint with the new project.
Sectors
- Real Estate Development
- Housing
Geography
- United States – The development is taking place in Texas, United States, emphasizing its relevance to the regional real estate market.
- Texas – The land acquisition and development project is located in the Texas cities of Katy and Fulshear, reflecting state-level significance.
Industry
- Real Estate Development – Hines is engaged in the real estate development of a large master-planned community near Katy, Texas.
- Housing – The project involves the construction of over 7,000 homes, indicating significant involvement in the housing industry.
Financials
- $93.0 billion – The total assets owned and operated by Hines, demonstrating its scale and capability in real estate investment.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Hines | Purchaser and Developer | Company | A global real estate investment manager responsible for acquiring and developing the master-planned community. |
| Toll Brothers | Builder Partner | Company | A home builder company partnering with Hines for the project. |
| Perry Homes | Builder Partner | Company | A home builder company involved in the development project alongside Hines. |
| Highland Homes | Builder Partner | Company | A builder engaged in the community development with Hines. |
| Village Builders/Lennar | Builder Partner | Company | A home builder brand involved in constructing homes in the new community. |
| Dreamfinder Homes/Coventry Homes | Builder Partner | Company | Home builders participating in the construction phase of the project. |
| Westin Home | Builder Partner | Company | A company that is part of the building consortium with Hines. |
| Newmark Homes | Builder Partner | Company | One of the builders partnering for the project's development. |
| Beazer Homes | Builder Partner | Company | A home construction company working with Hines on the development. |