Hines to Develop Master-Planned Community in Houston's Iowa Colony

954-Acre Development Will Meet Growing Demand for Attainable Housing in Houston

(HOUSTON) – Hines, the global real estate investment, development, and property manager, along with partners Trez Capital and various LP investors, today announced they have closed on 954 acres in Houston’s southern Brazoria County to be developed into a master-planned community.

Located along State Highway 288 within the City of Iowa Colony, the development will consist of approximately 2,100 single-family homes, varying in lot sizes. The community will offer robust amenities such as hiking and biking trails, an approximately 5-acre amenity area with a resort-style pool, a large playground, and a clubhouse, with parks planned in future phases. Served by the highly rated Alvin Independent School District, plans also include a future onsite school. Phase one of the development will consist of approximately 400 lots. The homes will be a variety of sizes and styles, with fresh design and innovative craftsmanship.

“As Houston continues to be a major employment hub in the Southwest, coupled with a supply-constrained market and rapid in-migration, the need for attainable housing remains critical,” said Carson Nunnelly, managing director at Hines. “With great schools in a prime location, this project will be vital in providing more home-buying opportunities in Brazoria County, and we look forward to working alongside our partners who have a breadth of knowledge in single-family development.”

The community is conveniently located with direct frontage to the newly improved State Highway 288, offering a suburban ambiance with quick and direct toll road access to the Texas Medical Center and downtown Houston within 30 minutes. The future Grand Parkway (State Highway 99) toll road extension is just south of the site and will provide connectivity between Sugar Land and Friendswood/League City.

Sandy Point is Hines’ largest lot development project in Houston since First Colony, its 9,700-acre master-planned community with a current population of more than 60,000 in Sugar Land, Texas. Hines has partnered with Trez Capital on numerous other projects across the Southwest over the past years, including Houston projects such as Somerset Green, Laurel Glen, Grayson Woods, Raburn Reserve and the recently announced master-planned community in the suburb of Rosenberg, Brookewater, which is currently underway.

Hines has over 65 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 its southwest region.

“Trez Capital is proud to partner with Hines on the development of high-quality communities with top-tier amenities and services coupled with beautiful interior finishes,” said John Hutchinson, vice-chairman and global head of origination at Trez Capital. “We are strong believers in the long-term growth of Texas. We continue to see the need for more housing in Houston and across the state and will continue to work with strong developers like Hines to meet the growing future demand for residential real estate across the state.”

Construction on Sandy Point is anticipated to begin in the second quarter of 2023 with the first phase expected to deliver in late 2024. Derek Graber with Dosch Marshall represented Hines, and David Cook and Meredith Cullen with Cushman Wakefield represented the seller. The project was financed by Flagstar Bank and Rocky Lai Associates.

About Hines

Hines is a global real estate investment, development and property manager. The firm was founded by Gerald D. Hines in 1957 and now operates in 30 countries. We manage nearly $96B1 in high-performing assets across residential, logistics, retail, office, and mixed-use strategies. Our local teams serve 685 properties totaling nearly 216 million square feet globally. We are committed to a net zero carbon target by 2040 without buying offsets. To learn more about Hines, visit www.hines.com and follow @Hines on social media.

¹Includes both the global Hines organization and RIA AUM as of December 31, 2022.

About Trez Capital

Founded in 1997, Trez Capital is a diversified real estate investment firm and preeminent provider of commercial real estate debt and equity financing solutions in Canada and the United States. Trez Capital offers private and institutional investors strategies to invest in a variety of opportunistic, fully secured mortgage investment funds, syndication offerings and real estate joint-venture investments; and provides property developers with quick approvals on flexible short- to mid-term financing.

With offices across North America, Trez Corporate Group has over $5.5* billion CAD in assets under management and has funded over 1,700 transactions totaling more than $17.5 billion CAD since inception. For more information, visit www.trezcapital.com. (*Trez Corporate Group AUM includes assets held by all Trez-related entities as well as $3.0 billion Manager AUM (Trez Capital Fund Management Limited Partnership)