Hines, the international real estate firm, has announced that it has formed a joint venture with the Bell Family of Southern Pines, North Carolina, to develop Pine Needles Village, a 550-plus-acre master-planned, mixed-use development incorporating a variety of residential offerings in a traditional neighborhood design, as well as office and commercial components.
The development is adjacent to and will be incorporated into the Pine Needles and Mid Pines golf resorts, also owned by the Bell Family. The resorts offer two classic Donald Ross-designed championship golf courses, with Pine Needles, recently ranked #3 in the state, slated to host the 2007 U.S. Women's Open Championship in June. The development and resorts are conveniently located along U.S. Highway 1 in the Town of Southern Pines and adjacent to the Village of Pinehurst, a world-renowned golf destination. Hines was selected by the owners, who have operated Pine Needles for more than 50 years, following a rigorous qualification and competitive interview process.
Kelly Miller, president of Pine Needles, said: "Everyone we've dealt with at the Hines firm shares the same core beliefs as our company. We needed a partner that understood the history of our properties and the history and sense of place that Southern Pines and Pinehurst represent around the world. We found the right partner in Hines."
Hines Senior Vice President Michael Harrison added, "We feel privileged to partner with the Bell Family to bring the Southern Pines area a truly world-class mixed-use development. Hines feels strongly that the success of the project depends on our ability to integrate the new development seamlessly with the character and flavor of the existing community."
"Preliminary master-planning and entitlement activities are underway, with ground breaking planned for the first quarter of 2007," said Hines Project Manager Lane Gardner. "The development should be in full swing by the Open Championship, and we anticipate project completion in five to seven years."