Real estate investment and development company Hines has revealed its plans to construct a new master-planned community in Waller, Texas, US.

The announcement was made by the company along with its partners Trez Capital, Caravel Ventures, and Sumitomo Forestry.

Hines has acquired 528 acres of land for this development project, which is expected to help stimulate economic growth and offer housing options for the growing population.

The development is located in Harris County and will include approximately 1,400 single-family homes in different lot sizes.

This community will feature a 4.7-acre recreation centre with a resort-style pool, a playground, and a clubhouse, in addition to walking and cycling routes and more than 130 acres of green space.

The Waller Independent School District serves the area and plans to bring an additional on-site school to the development.

Highland Homes, Chesmar, Drees, Brightland, Tri Pointe, Ashton Woods, and Castlerock Homes will build phase one of the development, encompassing roughly 350 units.

Hines managing director Carson Nunnelly said: “Waller is expected to see a major increase in population over the next five years, as growth continues to push north-west and limited vacant land remains in the surrounding submarkets.

“This poses an appealing opportunity for us to deliver a high-quality master-planned community with diverse product offerings. We look forward to working alongside our partners to meet the demand for high-quality, yet cost-effective housing options in this prime submarket.”

Construction is expected to commence in the fourth quarter of this year, with the first phase set to open in mid-2025.