Real estate firm Hines has teamed up with non-bank commercial mortgage lender Trez Capital to develop a new master-planned community in Texas, US.
Dubbed as Aster Park, the gated community will be located in McKinney, a growing submarket of Dallas.
The 414-acre project will feature more than 1,100 luxury single-family homes with sizes ranging from 40 to 70ft wide.
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Hines works with multiple homebuilders including M/I Homes, Highland Homes, Toll Brothers, Shaddock Homes and William Ryan Homes to offer a variety of designs and floorplans for these homes.
The community will boast high-end amenities, including private gated entrances, a clubhouse, a resort-style pool and a private trail system.
Hines managing director Dustin Davidson said: “We are seeing a shift in the residential market as more people seek larger homes to accommodate the desire to work from home while fostering a greater sense of community with their neighbours.
“We are excited to work closely with Trez Capital and bring Aster Park to market to offer residents a new luxury community where they can live, work and play.”
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By GlobalDataAster Park is located in the Prosper ISD school district, which is one of the best locations in the Dallas metro. McKinney is also easily accessible to downtown Dallas.
Construction on the new community is slated to commence in 2022, with sales expected to follow in 2023.
Hines has more than 64 years of development experience in Texas and nearly 20 years of experience in developing single-family communities.
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Aster Park prelim land plan. Credit: Hines.
