Hines Announces New In-Town Dallas Residential Community

(DALLAS) – Hines, the international real estate firm, today announced the opening of Merion at Midtown Park, one of Dallas’ newest and most amenitized in-town, single-family gated communities, located off Meadow Road near the Royal Oaks Country Club. Home prices start in the $450s.

The 23-acre land development will contain about 300 single-family homes created by homebuilders Chesmar Homes, Coventry Homes and K. Hovnanian Homes.

Residents will enjoy first-class conveniences alongside an upscale, urban lifestyle with a state-of-the-art amenity center that includes an infinity-edge resort pool, outdoor kitchen and fire pit, poolside cabanas and lounge areas. Merion at Midtown Park offers a connected pocket-park system with the majority of homes directly adjacent to open space. The community is also steps away from Dallas’ expansive trail network and the Harry S. Moss Park.

Located near Walnut Hill and Central Expressway/Hwy. 75, Merion at Midtown Park is close to Downtown Dallas (seven miles), Uptown (six miles) and NorthPark Center (two miles). It also offers direct access to the DART Rail, Texas Health Presbyterian Hospital and endless shopping, dining, cultural and entertainment options.

“Merion at Midtown Park will provide homeowners with a new luxury home in a community-planned environment set right in the heart of Dallas’ finest amenities,” commented Ben Brewer, Hines managing director.

Three model homes are now open and both quick move-in and build-to-suit homes are currently available for sale. For more information on Merion at Midtown Park, please visit www.merionatmidtown.com.

Chesmar Homes has been building homes of quality and value since 2005. Currently building in Dallas/Ft. Worth, Houston, Austin, and San Antonio, they understand that a home is the single most important investment buyers will make for their families. Energy efficiency is a key component of Chesmar Homes, keeping homeowner’s energy costs low while ensuring homes are safe and comfortable. Quality, integrity, and reliability characterize Chesmar Homes’ commitment to customer service and homebuilding. Their promise to homebuyers is simply this: provide a pleasurable buying experience, build a home of great quality and value, provide exceptional post-closing customer care, deliver what is promised and treat everyone with dignity and respect.

Coventry Homes is part of the McGuyer Homebuilders, Inc. (MHI) family of builders, which has built over 50,000 homes in Texas since 1988 and is consistently ranked among the nation's top homebuilders. Stunning homes coupled with unparalleled functionality and livability are trademarks of Coventry Homes' award-winning designs. Adding to that excellence in craftsmanship is a reputation for flexibility to easily meet buyer needs and a deep commitment to customer service, a pledge that regularly earns the company a 98 percent customer satisfaction rating in its annual buyer surveys. For more information, visit www.coventryhomes.com.

Hovnanian Enterprises, Inc., founded in 1959 by Kevork S. Hovnanian, is headquartered in Red Bank, New Jersey. The Company is one of the nation’s largest homebuilders with operations in Arizona, California, Delaware, Florida, Georgia, Illinois, Maryland, New Jersey, Ohio, Pennsylvania, South Carolina, Texas, Virginia, Washington, D.C. and West Virginia. The Company’s homes are marketed and sold under the trade names K. Hovnanian® Homes, Brighton Homes® and Parkwood Builders. As the developer of K. Hovnanian’s® Four Seasons communities, the Company is also one of the nation’s largest builders of active lifestyle communities. Additional information on Hovnanian Enterprises, Inc., including a summary investment profile and the Company’s 2016 annual report, can be accessed through the “Investor Relations” section of the Hovnanian Enterprises’ website at http://www.khov.com.

Hines is best known in the Dallas market for the development of Galleria which opened in 1982. The firm has been continuously active in development, acquisitions, redevelopment and property management, Hines has also completed a number of successful master-planned communities in the Dallas/Fort Worth area and around the globe.

Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 189 cities in 20 countries. Hines has approximately $96.5 billion of assets under management, including $48.5 billion for which Hines provides fiduciary investment management services, and $48 billion for which Hines provides third-party property-level services. The firm has 114 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,206 properties, totaling over 390 million square feet. The firm’s current property and asset management portfolio includes 533 properties, representing over 213 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.