Perot’s Hillwood Communities will bring 6,000 homes to North Texas

The 3,200-acre residential community will include retail

Texas /
Jan.January 24, 2022 04:13 PM

Real estate developer Ross Perot Jr. (Hillwood Development Company, City of Denton)

The Perot family’s Hillwood Communities aims to start building a 3,200-acre housing and retail project in Denton, Texas, later this year.

In addition to 6,000 single family homes, the planned community along Interstate 35 will have about 1 million square feet of retail, according to Dallas Morning News. In the past 30 years, Hillwood Communities has developed sites for more than 40,000 homes, about a third of which has been along I-35. Home sales have gotten a boost from thousands of people relocating to North Texas from out of state.

Demand remains strong, according to Fred Balda, president of Hillwood Communities.

“Our Harvest community started selling homes in 2014 and at the end of the day, we will have about 4,000 homes built,” Balda said. “We’ve sold 2,450 homes this week.”

Development in North Texas has exploded in recent years. “We are dealing with incredible demand,” he said. “The millennials are now getting married, having kids and wanting to buy a home.”

Balda said Hillwood is looking at other potential sites in the Dallas-Fort Worth area. Other developers active in the region include BlackRock Realty Advisors.

Hunter Ranch is the latest major project by the Perot family in Texas. Earlier this month, Perot’s Hillwood Investment Properties bought just over 66 acres of rural land south of Houston.

[Dallas Morning News] – Madeline Sperling





    Related Articles

    arrow_forward_ios
    (iStock)
    ‘Slab farming’– the latest DIY solution to Texas’ affordable housing crisis
    ‘Slab farming’– the latest DIY solution to Texas’ affordable housing crisis
    D.R. Horton with 11 Williamson Rd, Niederwald (LinkedIn, Google Maps)
    D.R. Horton to build 2,200-home master-planned community in Central Texas
    D.R. Horton to build 2,200-home master-planned community in Central Texas
    Hines' Dustin Davidson and a map of the parcel in McKinney, Texas (Hines, LinkedIn)
    Texas’ Hines doubles down on residential with luxury community in McKinney, north of Dallas
    Texas’ Hines doubles down on residential with luxury community in McKinney, north of Dallas
    Lucy Billingsley, partner, Billingsley; Denton County courthouse, Denton Texas (Wikipedia, iStock, Billingsley)
    Billingsley expands Texas reach with Denton project
    Billingsley expands Texas reach with Denton project
    First Guaranty Mortgage's Aaron Samples (LinkedIn/Aaron Samples, iStock)
    First Guaranty Mortgage files for bankruptcy
    First Guaranty Mortgage files for bankruptcy
    Core5 Industrial Partners' Timothy Gunter with Core Logistics Center (Core5)
    Top Texas building market adds $16M business park
    Top Texas building market adds $16M business park
    Elgin City Manager Thomas Mattis and a map of the new residential development (SEC Planning LLC, ElginTX.com)
    Austin exurb moves forward on a stalled massive residential neighborhood
    Austin exurb moves forward on a stalled massive residential neighborhood
    Archway's Eric Hawk and a rendering of Royal 114 (Archway, iStock)
    Giant industrial park slated for Dallas area
    Giant industrial park slated for Dallas area
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...