Hines, an international real estate firm, and partner Trez Capital announced Tuesday that they have acquired a 765-acre property in Thornton, Colorado, known as Parterre, upon which the partnership will develop a single-family home and mixed-use community.

Home builders assembled for this new signature development include William Lyon Homes and Lennar Homes. Design and entitlements are underway, and construction activities are expected to begin in mid-to-late 2019.

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The development is located in north Thornton, one of Denver metro’s most thriving submarkets, less than four miles east of I-25 near key shopping, entertainment, and transportation. The property is 20 miles from downtown Denver and is expected to offer attainably-priced housing, as well as a mix of commercial and retail uses.

Rob Witte, Hines senior managing director, indicated that as master developer, Hines will oversee development of the project, including the community master plan and infrastructure, residential neighborhoods, amenity centers, mixed-use parcels, community amenities, parks, and walking and biking trails.

Hines Director Chad Murphy, commented, “This property is a key land parcel in north metro Denver that has essentially become a near 800-acre infill site over the last five years. We are thrilled about the opportunity to create a unique residential and mixed-use development in Thornton that will include a variety of housing options and prices. There are few land parcels of this size left in this good of a location. With our high-caliber home builder partnerships, this development will provide one of the finest neighborhoods that people can call home for generations to come.”

“We are pleased to partner with Hines to bring this master planned community to life in a very desirable area just outside of Denver,” said John Hutchinson, president of Trez Capital. “Parterre is the 11th project that Trez Capital and Hines have purchased together as partners.”