Hines Launches Single-Family Dallas Development

Aster Park Land Plan. Image courtesy of Hines

Hines and Trez Capital have launched the development of Aster Park, a 414-acre single-family home community in McKinney, Texas. The master-planned project will comprise more than 1,100 sites in a gated community near Dallas.

The new homes will range from 40- to 70-feet wide and feature an array of designs and floorplans from homebuilders that include M/I Homes, Highland Homes, Toll Brothers, Shaddock Homes and William Ryan Homes. Residents will have access to high-end amenities that include private gated entrances, a state-of-the-art clubhouse, a resort-style pool and a private, extensive trail system.

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Aster Park residents can place their children in schools within the Prosper Independent School District, a top-rated public school district in the Dallas metropolitan area. Residents will have improved access to downtown Dallas with the North Texas Tollway Authority’s planned additions to the Dallas North Tollway.

The new development is situated in an expanding Dallas suburb. In May 2020, the U.S. Census Bureau ranked McKinney as the fourth fastest growing city in the United States.

Development Experience

Hines has developed, redeveloped or acquired approximately 1,486 properties, totaling more than 492 million square feet. The firm currently has more than 171 developments underway around the world.

Hines has nearly two decades of experience developing single-family communities. The firm has completed more than 20 communities with more than 10,000 lots since 2005 and has more than 20,000 additional lots under development in 26 different communities across the Southwest.

Trez Capital will work closely with Hines to provide financing solutions for prospective residents of Aster Park. Hines expects to begin construction on homes this year, with sales starting in 2023.