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Hanover Property Co. Plans Over 2,000 Homes for Midlothian, Tex. Master-Plan
February 6, 2020The $950 million community will contain homes priced from the $300,000s. | read more >
Dallas-based real estate developer Hanover Property Co. has acquired 966 acres of land in Midlothian, Tex., on which it plans to develop a $950 million master planned community. The site is expected to contain 2,000 single-family homes at full buildout, plus 160 townhomes, 26 acres of commercial development and 42 acres of industrial development.
Pre-development is underway, and the development’s name and first-phase builders will be announced later this year. The first homes will be available by early 2022, with 350 homes planned for the first phase.
Ben Luedtke, executive vice president of Hanover, said the company has been working with the city of Midlothian for the last year on planning the development.
“The city is a great partner, and the result is the first true master-planned community of this size in Midlothian,” Luedtke said in a prepared statement. ”There is substantial tree coverage, gentle rolling hills and a 50-acre lake. We will thoughtfully enhance the natural beauty that is already in place.”
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.
Developer Buys Large Swath of Land in Small Texas City Where Google is Building a Data Center
February 5, 2020Hanover Property Plans Master-Planned Community South of Dallas | read more >
The acreage has frontage access to U.S. Route 287, which is a thoroughfare running through Midlothian, Texas, in Ellis County. (Wikimedia Commons)
Hanover Acquires Land in Metro Dallas for Future $950M Master-Planned Development
February 5, 2020MIDLOTHIAN, TEXAS — Locally based developer Hanover Property Co. has acquired 966 acres in the southern Dallas suburb of Midlothian for the development of a $950 million master-planned community. | read more >
Current plans call for 2,000 single-family homes, 26 acres of commercial space and 42 acres of industrial space. Pre-development is underway, and the initial phase is expected to be complete in early 2022. Michael Swaldi, Larry McCorkle and Nick Hayden of JLL represented the seller, ECOM Real Estate, in the transaction. Paul Whitman, also with JLL, represented Hanover Property Co.
966 Midlothian acres slated for master-planned community
February 4, 2020MIDLOTHIAN (JLL) – Hanover Property Co. has purchased 966 acres at the northeast corner of SH 287 and Walnut Grove Rd. for a $950 million master-planned community. | read more >
The development will include 2,000 single-family homes, 160 townhomes, 26 acres of commercial space, and 42 acres of industrial development around a 50-acre lake.
Homes will be priced from the $300,000s and will be available by early 2022.
JLL marketed the land on behalf of the seller, ECOM Real Estate, and represented the buyer. The project team also includes MESA and LJA Engineering.
Dallas developer plans 2,000-plus homes for $950M master-planned community in Midlothian
February 4, 2020A 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. | read more >
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.
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.
The development’s name and builders for the first phase, which will consist of 350 homes, will be announced later this year.
Ben Luedtke, executive vice president of Hanover, said the company has been working with the city of Midlothian for the last year on planning the development.
“The city is a great partner, and the result is the first true master-planned community of this size in Midlothian,” Luedtke said in a prepared statement. ”There is substantial tree coverage, gentle rolling hills and a 50-acre lake. We will thoughtfully enhance the natural beauty that is already in place.”
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.
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 of market research firm Residential Strategies said.
“As 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 — the historical ‘sweet spot’ for Midlothian new home construction,” Wilson said in a statement.
JLL Capital Markets Managing Directors Michael Swaldi and Larry McCorkle and Director Nick Hayden marketed the property on behalf of the seller, ECOM Real Estate. JLL International Director Paul Whitman represented Hanover.
The project team also includes MESA as the landscape architect and land planner and LJA Engineering.
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.
Hanover Property acquires 966 acres in Texas for $950m master-planned development
February 4, 2020Hanover Property Co. has acquired 966 acres of land for a $950 million master-planned development in Midlothian, Texas. | read more >
The site is located at the northeast corner of Highway 287 and Walnut Grove Road, about 30 minutes south of downtown Dallas. Plans for the property include 2,000 single-family homes, 160 townhomes, 26 acres of commercial space and 42 acres of industrial development. Pre-development is under way, and homes will be available by early 2022.
“We’ve been jointly working with the City of Midlothian for the last year on the planning of this development,” said Ben Luedtke, executive vice president of Hanover. “The City is a great partner, and the result is the first true master-planned community of this size in Midlothian. There is substantial tree coverage, gentle rolling hills and a 50-acre lake. We will thoughtfully enhance the natural beauty that is already in place.”
Hanover’s presence and experience in the southern Dallas–Fort Worth metro area, with multiple master-planned communities, has positioned the firm to add a Midlothian property to its portfolio. It is currently developing multiple master-planned communities in the Dallas–Fort Worth metroplex, including Somerset (487 acres, 1,105 lots) and M3 Ranch (720 acres, 1,571 lots) in Mansfield, Texas; and Berkshire (358 acres, 641 lots) and Wellington (610 acres, 1,680 lots) in north Fort Worth. It is also the developer of the hugely successful Mira Lagos community in Grand Prairie, Texas.
The location of the new development off of Highway 287 is one of the more accessible, high-traffic thoroughfares in the growing Dallas–Fort Worth southern sector and is close to retail, restaurants, higher education, recreation, medical facilities and a regional airport. The development’s name and builders for the first phase, which will consist of 350 homes, will be announced later this year.
Midlothian To Bloom With $950M Master-Planned Community
February 3, 2020The developer plans to set aside 26 acres for general commercial construction, and another 42 acres for industrial development. | read more >
Commercial properties introduced into the community will have access to a growing, affluent population with Hanover planning to construct 2,000 single-family homes and 160 townhomes on the remaining acreage.
Midlothian is competing with other DFW suburbs for tech talent and young professionals. The small town south of Dallas is already home to a Google data bank and continues to attract a more educated workforce each year.
Hanover plans to sell homes in the community, which sits at the northeast corner of Highway 287 and Walnut Grove Road, in the $300K and up range.
Wikipedia Commons | Downtown Midlothian, Texas
“We’ve been jointly working with the City of Midlothian for the last year on the planning of this development,” Hanover Property Co. Executive Vice President Ben Luedtke said in a statement. “The city is a great partner, and the result is the first true master-planned community of this size in Midlothian. There is substantial tree coverage, gentle rolling hills and a 50-acre lake. We will thoughtfully enhance the natural beauty that is already in place.”
Hanover purchased the acreage from ECOM Real Estate. JLL Capital Markets Managing Directors Michael Swaldi and Larry McCorkle and Director Nick Hayden represented the seller. JLL International Director Paul Whitman represented Hanover.
Hanover also tapped MESA to serve as the project's landscape architect. LJA Engineering will handle engineering services.
New residential community southwest of Dallas will have thousands of homes
February 3, 2020Hanover Property is building the $950 million project in Midlothian. | read more >
Hanover Property's new Midlothian community will include a 50-acre lake.(Hanover Property Co.)
A huge new development southwest of Dallas will bring more than 2,000 homes.
Hanover Property Co. has purchased 966 acres on U.S. Highway 287 in Midlothian for the mixed-use project. The planned $950 million development will include single-family homes, townhouses and commercial and industrial construction.
The first neighborhoods should be ready by early 2022.
“We’ve been jointly working with the city of Midlothian for the last year on the planning of this development,” Ben Luedtke, executive vice president of Hanover Property, said in a statement. “The city is a great partner, and the result is the first true master-planned community of this size in Midlothian.
“There is substantial tree coverage, gentle rolling hills and a 50-acre lake,” he said. “We will thoughtfully enhance the natural beauty that is already in place.”
Homes in the new development will start at more than $300,000, with 350 houses in the first phase.
JLL Capital Markets managing directors Michael Swaldi and Larry McCorkle and director Nick Hayden marketed the property on behalf of the seller.
Hanover Property bought the sprawling development site from ECOM Real Estate in a deal negotiated by JLL’s Paul Whitman, Michael Swaldi, Larry McCorkle and Nick Hayden
Mesa Landscape Architecture and LJA Engineering are planning the project.
The Midlothian development is one of several community projects Hanover is developing in North Texas. Other Hanover communities include Somerset and M3 Ranch in Mansfield and Wellington in North Fort Worth.
Hanover Property Co. launches 1,500-plus home development in Mansfield
October 18, 2019Hanover Property Co. in partnership with a local family launched development this week of a master-planned community in West Mansfield that will span nearly 900 acres and include more than 1,500 homes at full buildout. | read more >
An overview of M3 Ranch, a master-planned community under development in Mansfield that will have more than 1,500 homes