Hines JV purchases residential development near Washington, D.C.
Hines has purchased Hartland, a residential property site in Loudoun County, Virginia, with Sumitomo/Dan Ryan. Originally owned by Timber Ridge Management, they have worked on the planning, engineering and community layout for nearly two years in preparation and initiated development of the initial phase of the project.
The project will include 775 single-family detached homes, extensive amenities, open space and trails, and a locally owned winery across approximately 800 acres of land. The lots have been presold to Dan Ryan Builders, NVR and Van Metre homes.
“We are excited about working together with Sumitomo/Dan Ryan to create a superior residential community on the premier site in the Washington, D.C. metro region. As the last large tract with by right zoning, located in a severely supply constrained market which continues to experience population growth and offer a distinctly high quality of life, we are confident that this project will be a positive contribu