Hines announced on Tuesday that it recently acquired a 46-acre property inside the 610 Loop for Somerset Green, a new gated residential development. This will be one of several Houston projects the real estate firm will work on.
Plans for the project include about 500 three- and four-story single-family townhomes on small lots, as well as community spaces, such as parks and swimming pools. Infrastructure development is expected to start early next year, followed by the first phase of home construction beginning late next year. Coventry Homes, Pelican Builders and Toll Brothers will be building in the first phase, and Preston Wood & Associates is the land planner for the community.
Hines Prepares to Break Ground on More Projects in Houston
Hines has a variety of projects in the works in the Houston area, such as a 47-story downtown skyscraper, which is set to break ground in the first quarter of next year. Construction is also set to start on a 17-story office structure in the Inner Loop before the end of the year.
On the multifamily front, Hines is working on a 33-story Market Square development with 289 units at 327,000 square feet, as well as a 25-story project in the Museum District with 250 units and 301,000 square feet.