New development underway near Tesla Gigafactory

Kevin Baxter | Staff Reporter

On January 20, Hines, the international real estate firm, released their plans to develop a master-planned community in southeast Austin. The community will be next to 130 Toll and Highway 71, giving easy access to the new Tesla Gigafactory and the Circuit of the Americas Formula One racetrack.

According to Hines, Mirador will consist of 2,500 single-family lots, 50 acres of multi-family lots and townhomes (including attached, detached, duplexes, quadplexes), and 75 acres of commercial land.

Hines will be working with Trez capital, Caravel Ventures and Sumitomo Forestry to create Mirador.

The development houses will be built by Hines, partnered with Gehan Homes and Lennar Homes, David Weekley Homes, Highland Homes, MHI Homes, along with more builders in the future.

Dustin Davidson, Managing Director at Hines, stated, “As Austin continues to grow into the tech epicenter of Texas, coupled with a supply-constrained market, the demand for new housing is at its highest. Mirador will be critical in providing more options for Austin’s growing population and we are excited to work alongside our partners given they each provide a unique and valued perspective in single-family development.”

Hines was started by Gerald D. Hines in 1957 and has had experience developing single-family communities for the past two decades.

“Since 2005, 20 communities and over 10,000 lots have been completed to date with over 20,000 additional lots currently under development in 26 different communities across our Southwest region,” stated Hines’ press release.

Hines has a presence in 27 countries with investment assets totaling around $83.6 billion. They have more than 171 developments underway across the world.

Construction of Mirador is set to begin in 2022, with home sales starting in 2023.