The partners behind a massive master-planned development in Flower Mound are pushing forward.Hines, a Houston-based real estate investment manager, along with...
Hines, a Houston-based real estate investment manager, along with partners Trez Capital and the Furst family of Flower Mound announced Thursday that it acquired the initial 90 acres for
The project, located at U.S. Highway 377 and Cross Timbers Road between Flower Mound, Bartonville and Argyle, is expected to span over 1,000 acres.The initial phase will include three residential neighborhoods. The High Plains neighborhood will have 1,100 homes on lots ranging from 50 feet to 80 feet wide. The Prairie Vista neighborhood will have 200 homes on lots ranging from .5 acre to 1 acre. The Cross Timbers neighborhood will have 74 homes on lots ranging from 1 to 2 acres.
The newly acquired 90 acres are part of the High Plains neighborhood. Development is already underway. Hines and its partners plan to purchase the remaining 948 acres over the next six years, the firm said.“The acquisition of the initial parcel sets the stage for this meticulously planned, multi-phase community in a prime location,” Dustin Davidson, managing director at Hines, said in a statement.
“I’ve been working on this project since 1991,” Furst said. “This is an opportunity — a legacy of Flower Mound and a legacy of my family. It will be spectacular.”Plans call for roughly 6,000 single-family homes at the development’s completion. Landmark will also hold more than 5 million square feet of commercial, mixed-use space and roughly 3,000 multifamily units fronting more than five miles near I-35W.
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