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.Read More