HOUSTON – Hines – the Houston-based developer that has created 37,000 residential lots encompassing 12,000 acres over the past four decades – is starting a relatively small project near the new Exxon Mobil campus north of Houston.
The latest addition to the Hines residential portfolio is Laurel Park North, a 130-acre project on the east side of David Wayne Hooks Memorial Airport, near FM 2920 and Stuebner Airline Road. The Exxon Mobil area is hot because the oil company will be moving in 10,000 employees, including 2,000 from Virginia.
Hines’s Laurel Park North will have 300 lots with a builder roster including Chesmar Homes, Highland Homes, Shea Homes and Princeton Classic Homes.
The first houses will be completed in late 2015. Home prices will range from $350,000 to $400,000.
Hines is seeking more property for residential development around Houston, which has led the nation in job growth. Hines has several multifamily and office projects under construction in Houston today.