Another day, another new development in a prime building area in north Collin County.
This time, Houston-based Hines is teaming up with investor Trez Capital to develop the 1,100-home Aster Park community north of Farm Road 1461.
From a Google Maps view, the property is in a green patch, near a cluster of hay rolls and untouched by the veiny outlines of subdivisions in Celina to the west and McKinney to the east. To get there, go north on Custer Road, turn east on FM 2478 and follow it as it bends north, then turn east on Twin Mallets Lane.
Along Twin Mallets Lane, halfway to the new community, is home once owned by Norman Brinker, the late Dallas restaurateur. On Google Maps, the house, swimming pool, and adjoining tennis courts are shrouded in trees. Go a little more east, and you’ll get to the land parcels where Aster Park will be built.
Aster Park will be a 414-acre gated community with more than 1,100 home sites ranging from 40- to 70-foot wide Homebuilders include M/I Homes, Highland Homes, Toll Brothers, Shaddock Homes, and William Ryan Homes.
Construction is expected to start this year with the first homes to be sold in 2023.
The community will offer residents amenities such as private gated entrances, a clubhouse, a resort-style pool, and a private extensive trail system. The community is also in the Prosper ISD.
“We are seeing a shift in the residential market as more people seek larger homes to accommodate the desire to work from home while fostering a greater sense of community with their neighbors,” Dustin Davidson, Hines managing director, said in a statement.
“We are excited to work closely with Trez Capital and bring Aster Park to market to offer residents a new luxury community where they can live, work and play.”
Addison-based Trez Capital is a non-bank commercial mortgage lender that has partnered on other developments in North Texas.
“ … Hines’ Aster Park development will provide a dynamic option for families seeking a live-work-play lifestyle that’s abundant with modern amenities,” Jennifer Fisher, vice president at Western Alliance Bank, said in a statement.
