Hines, a Houston-based real estate firm, announced plans to develop a master-planned community on 1,400 acres of land near Tesla’s gigafactory in southeast Austin in a Jan. 20 press release.
The mixed-use development Mirador will consist of 2,500 single-family homes and 50 acres for multifamily homes and townhomes. The community will feature on-site amenities, including a 60-acre lake, over 600 acres of greenbelt, community parks, trails and a swimming pool.
The development continues an existing partnership among Hines and homebuilding companies Gehan Homes and Lennar Homes. David Weekley Homes, Highland Homes, MHI Homes and other yet to-be-announced builders will also be involved in the project, according to the press release.
Construction is expected to start this year with the first home sales beginning in 2023. The project will take an estimated six years to complete.