Real estate firm Hines along with partners Trez Capital, Caravel Ventures, and Sumitomo Forestry, have closed on 850 acres in Houston, Texas, to develop the property into a master-planned community.
Called Brookewater, the project is located in the suburb of Rosenberg, and will feature around 2,400 single-family homes, varying in lot sizes, with a planned school site.
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The project will offer several amenities such as resort style water zone; over 200 acres of parks, recreation, lakes, open space, walking trails, nature preserves, and playgrounds.
The first phase of Brookewater will feature around 400 lots and will be constructed by Highland, Perry, David Weekley, Gehan, Chesmar, and Westin Homes.
The homes will come in various sizes and styles, with fresh design and innovative craftsmanship being at the forefront.
Hines senior managing director Rob Witte said: “Houston continues to be a major employment hub in Texas and homebuyers are seeking homes in strong school districts that are in close proximity to the city.
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By GlobalData“As one of the largest master-planned communities in Rosenberg, Brookewater will be essential in meeting the demand for lot inventory and top-tier residential amenities for Houston’s rapidly growing population. We look forward to working alongside our partners given their unique and valued perspectives in single-family development.”
Construction of Brookewater is expected to commence this year with the first phase anticipated to be delivered in 2024.
This transaction was led by Hines director Carson Nunnelly.
The community, located off Highway 59, will offer a suburban ambiance and provide direct access to Greenway Plaza and Downtown Houston.
Furthermore, the Fort Bend Transit System is only five miles away from the project.
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Image: The homes will come in various sizes and styles. Credit: giovanni gargiulo from Pixabay.
