- Hines has acquired 245 acres in Loudoun County and nearly 13 acres in Manassas, VA, to develop over 1.2K housing units.
- The Village at Clear Springs will feature nearly 1.08K units, including affordable housing and a U.S. Tennis Association facility.
- Parkridge West in Prince William County will add 162 homes near Interstate 66, adjacent to retail and recreational areas.
- Both developments aim to address the housing shortage in Northern Virginia, where demand remains high due in part to its proximity to D.C.
According to CoStar, Hines has made significant land acquisitions in two Virginia suburbs of Washington, D.C., aiming to alleviate the region’s housing shortage.
Upcoming Projects
The developer purchased a 245-acre site in Loudoun County, south of Leesburg, and nearly 13 acres in Manassas, VA.
- In Loudoun County, Hines plans to build the Village at Clear Springs, a 1.08K-unit housing development. This project includes single-family detached houses and townhouses, and even amenities like a U.S. Tennis Association facility with 50 tennis and pickleball courts. Some units will cater to residents aged 55+, and 200 homes will meet Loudoun County’s affordable housing standards. The development will feature private clubhouses, pools, and neighborhood parks. Construction is set to begin in the summer of 2025.
- In Manassas, Hines will develop Parkridge West, consisting of 162 single-family houses and stacked townhouses. Located near Interstate 66 and adjacent to significant retail and recreational areas, this project will include amenities like a playground, a park, and a dog park. The residential lots have been presold to NVR, with construction also expected to start by next summer.
Addressing The Shortage
According to Hines and recent data from the Northern Virginia Association of Realtors, approximately 242K units of the Washington, D.C. submarket are underused.
This shortage has driven home prices up by over 10% in the past year. Hines’ new developments aim to provide much-needed housing to support the growing population and demand in the region.
Hines also has a history of developing residential projects in Northern Virginia, including Hartland, a 775-unit development near Aldie, located nine miles south of the new Village at Clear Springs site.
