{"id":2344,"date":"2019-10-18T01:46:42","date_gmt":"2019-10-18T01:46:42","guid":{"rendered":"https:\/\/demo2wpopal.b-cdn.net\/rehomes\/2019\/10\/18\/advertising-relationships-vs-business-decisions\/"},"modified":"2021-04-20T18:53:34","modified_gmt":"2021-04-20T18:53:34","slug":"dallas-developer-plans-2000-plus-homes-for-950m-master-planned-community-in-midlothian","status":"publish","type":"post","link":"https:\/\/www.angmarrealty.com\/dallas-developer-plans-2000-plus-homes-for-950m-master-planned-community-in-midlothian\/","title":{"rendered":"Dallas developer plans 2,000-plus homes for $950M master-planned community in Midlothian"},"content":{"rendered":"\t\t
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\"\"A Dallas-based real estate developer has acquired 966 acres of land in Midlothian for a $950 million master-planned residential community with thousands of homes.<\/p>

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Hanover Property Co. on Monday announced the acquisition of the land at the northeast corner of Highway 287 and Walnut Grove Road, about 30 minutes south of downtown Dallas.\u00a0<\/p>

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Plans for the property include 2,000 single-family homes priced from the $300,000s,160 townhomes, 26 acres of commercial and 42 acres of industrial development. Pre-development is underway, and the first homes will be available by early 2022, the company said.<\/p>

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The development\u2019s name and builders for the first phase, which will consist of 350 homes, will be announced later this year.<\/p>

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Ben Luedtke<\/a>, executive vice president of Hanover, said the company has been working with the city of Midlothian for the last year on planning the development.<\/p>

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\u201cThe city is a great partner, and the result is the first true master-planned community of this size in Midlothian,\u201d Luedtke said in a prepared statement. \u201dThere is substantial tree coverage, gentle rolling hills, and a 50-acre lake. We will thoughtfully enhance the natural beauty that is already in place.\u201d<\/p>

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Hanover is developing multiple master-planned communities in North Texas, including Somerset (487 acres, 1,105 lots) and M3 Ranch (720 acres, 1,571 lots) in Mansfield; and Berkshire (358 acres, 641 lots) and Wellington (610 acres, 1,680 lots) in north Fort Worth. The company is also the developer of the Mira Lagos community in Grand Prairie.<\/p>

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Midlothian has been one of the most dynamic growth areas of the southern DFW new home market, with 511 housing starts last year, Ted Wilson<\/a> of market research firm Residential Strategies said.<\/p>

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\u201cAs land and development costs have risen, it has become increasingly challenging for developers to produce lots that can translate into the $275,000 to $400,000 home price \u2014 the historical \u2018sweet spot\u2019 for Midlothian new home construction,\u201d Wilson said in a statement.<\/p>

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JLL Capital Markets Managing Directors Michael Swaldi<\/a> and Larry McCorkle<\/a> and Director Nick Hayden<\/a> marketed the property on behalf of the seller, ECOM Real Estate. JLL International Director Paul Whitman<\/a> represented Hanover.\u00a0<\/p>

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The project team also includes MESA as the landscape architect and land planner and LJA Engineering.<\/p>

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Midlothian will also be the site of a massive data center that Google is building. The company is putting $600 million in the Ellis County facility and is creating construction and ongoing jobs at the site.<\/p>

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Dallas Business Journal. (2020, February 4). Dallas developer plans 2,000-plus homes for $950M master-planned community in Midlothian [Blog post]. Retrieved from https:\/\/www.bizjournals.com\/dallas\/news\/2020\/02\/04\/hanover-property-co-midlothian.html<\/a><\/p>

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If you enjoyed this post, follow AngMar Realty on Facebook<\/a><\/p>

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The first thing you need to do is sit down and set your goals. Diana Scharf Hunt said \u201cGoals are dreams with deadlines.\u201d A lot of times, people are thrown off by the idea of taking the time to set their goals.<\/p>\n","protected":false},"author":1,"featured_media":2837,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[16],"tags":[],"_links":{"self":[{"href":"https:\/\/www.angmarrealty.com\/wp-json\/wp\/v2\/posts\/2344"}],"collection":[{"href":"https:\/\/www.angmarrealty.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.angmarrealty.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.angmarrealty.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.angmarrealty.com\/wp-json\/wp\/v2\/comments?post=2344"}],"version-history":[{"count":8,"href":"https:\/\/www.angmarrealty.com\/wp-json\/wp\/v2\/posts\/2344\/revisions"}],"predecessor-version":[{"id":2881,"href":"https:\/\/www.angmarrealty.com\/wp-json\/wp\/v2\/posts\/2344\/revisions\/2881"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.angmarrealty.com\/wp-json\/wp\/v2\/media\/2837"}],"wp:attachment":[{"href":"https:\/\/www.angmarrealty.com\/wp-json\/wp\/v2\/media?parent=2344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.angmarrealty.com\/wp-json\/wp\/v2\/categories?post=2344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.angmarrealty.com\/wp-json\/wp\/v2\/tags?post=2344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}