Hines Acquires 281 Acres for MXD Development

[IMGCAP(1)]SOUTHLAKE, TX-With the deed now in hand, Houston-based Hines will rework a longstanding plan for Newland Communities’ Aventerra II, changing the name and adjusting the game for 281 raw acres at the city’s core. The acclaimed developer has acquired the commercially zoned site from a six-year owner after a quietly orchestrated marketing to a select few.

Hines’ new claim in the metroplex is the northeast corner of Texas 114 and White Chapel Road. Earlier this year, the San Diego-based Newland sold 56 commercially zoned acres, labeled Aventerra I, to a local developer, Vaughan Commercial, who got the next Texas 114 intersection at Dove Road. Newland’s third site in the city, with more than 200 acres, previously was sold to Gateway Church.