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September 16, 2020 Comments Off on Hines, Sumitomo Acquire Residential Development Site in Metro D.C. Views: 360 D.C. Metro News, Top Washington, D.C., Washington, D.C. News

Hines, Sumitomo Acquire Residential Development Site in Metro D.C.

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International real estate firm Hines and Sumitomo / Dan Ryan has acquired Hartland, a residential development site in Loudoun County, VA. The seller was Timber Ridge Management, which 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 as well as a number of amenities and open space and trails. The community will also include a locally-owned winery across 800 acres of land. The lots have been presold to Dan Ryan Builders, NVR and Van Metre homes. The initial phase of the project broke ground earlier this year while under Timber Ridge’s management with initial delivery anticipated for Q1 2021.

“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,” said Alex Westra, managing director at Hines. “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 contribution to the community and a success for the venture.”

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