HOUSTON – (Realty News Report) – Hines, the global real estate firm, along with partners Trez Capital, Caravel Ventures, and Sumitomo Forestry, acquired 850 acres in Rosenberg, near Houston, to be developed into Brookewater, a master planned community.
Brookewater will consist of approximately 2,400 single-family homes, varying in lot sizes, with a planned school site, and amenity offerings such as a resort-style water feature, more than 200 acres of parks, recreation, lakes, open space, walking trails, nature preserves, and playgrounds.
Phase one of Brookewater will consist of 400 lots and will be built by Highland, Perry, David Weekley, Gehan, Chesmar, and Westin Homes.
“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,” said Rob Witte, senior managing director at Hines. “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.”
Located off of Highway 59, residents will also experience extensive walking trails throughout the community, with greenbelts, lakes, and detention ponds that provide connectivity from north to south.
Brookewater is Hines’ largest lot development project in Houston since First Colony, its 9,700-acre maste -planned community with a current population of more than 60,000 in Sugar Land. First Colony is also located off U.S. 59, a few miles from the new Brookewater site. Previously, Hines has partnered with Trez Capital, Caravel Ventures, and Sumitomo Forestry for Mirador, a master-planned community in Southeast Austin.
Construction on Brookewater is anticipated to begin this year with the first phase expected to deliver in 2024. This transaction was led by Carson Nunnelly, director at Hines.
Hines has over 64 years of development experience in Texas and nearly two decades of experience developing single-family communities. Since 2005, 26 communities have been completed to date across the southwest region.
Sept. 15, 2022 Realty News Report Copyright 2022
File: Hines Plans 2400 Homes in New Houston Community
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File: Residential. Rosenberg. Hines Plans 2400 Homes in New Houston Community
Image: Courtesy Hines