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HIDDEN LAKES - CASE HISTORY



Recent growth in Northeast Tarrant County suggested that Keller, Texas was ripe for development. Hanover Property Company had been tracking the submarket over time. The Company’s pro forma projections confirmed what census and permit activity suggested. Keller’s time had finally arrived.

Hanover promptly contacted city officials to inquire about opportunities. City leaders shared their vision for a golf course community in Keller, and when a parcel of land owned by Herman Smith Company became available along FM 1709 and Davis Road, Hanover acquired the property.

The initial 825-acre land tract accommodated 180 lots near the entrance to the Meadows of Bear Creek. Ultimately, Hanover would develop 1,600 lots in four sizes, ranging from 6,000 to 20,000 square feet.

The master plan included aesthetically pleasing hardscaping, landscaping, and community amenities beyond the basic infrastructure. Building restrictions exceeded city code, ensuring a successful build-out.

Within 15 months, equity partners realized a 39% internal rate of return, ahead of commercial development, making Hidden Lakes a value to everyone involved.

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Hidden Lakes features upscale amenities that include dub houses with swimming pools, soccer fields, playgrounds, volleyball courts, and walking trails.