By Kelcey McClung, Reporter, Denver Business Journal
Oct 16, 2018
Hines and Trez Capital have acquired a 765-acre property in Thornton, with plans to develop a single-family home and mixed-use community.
According to public records, they acquired the land for a little over $20 million.
Known as Parterre, the master-planned community will be located between Holly and Quebec streets, near the $5 million Quebec Street interchange that opened in 2014.
Hines, the Houston-based international real estate firm, will oversee development of the project including the community master plan and infrastructure, neighborhoods and more.
“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,” said Chad Murphy, Hines director. He added that the development would include a variety of housing options and prices.
According to John Hutchinson, president of Dallas-based Trez Capital, Parterre is the eleventh project that the partnership has purchased together.
William Lyon Homes and Lennar Homes will build homes on the site. Construction is expected to begin by late 2019.
Hines recently completed 1144 Fifteenth to downtown Denver, the 40-story office building that is home to Gates and Optiv, among others. It was also one of the developers on 1601 Wewatta and in 2015 sold its flex office portfolio for $78.5 million.