FORT WORTH, Texas (October 25, 2012) – Hillwood Multifamily, a subsidiary of Hillwood Properties that focuses on multifamily development and investment opportunities, is now leasing residential units at Phase II of Monterra Village. Monterra Village is a master-planned, 130-acre, mixed-use community located within Hillwood’s 900-acre Alliance Town Center development.
The new phase of Monterra Village includes 262 luxury one-, two- and three-bedroom apartment homes with floor plan options and amenities that are complementary to the existing townhome-style apartments constructed during the initial phase of the development. Delivery of 36 units in the first two buildings has taken place, and pre-leasing activity has been strong. Although the development is still under construction, it is already 20 percent leased.
Monterra Village is Hillwood’s first multifamily community within its award-winning AllianceTexas, a 17,000-acre, master-planned development. The luxury townhome and apartment home community was the first 100 percent smoke-free property in the Dallas / Fort Worth Metroplex. Phase I of the high-performing project opened in 2008 with 288 units.
Located in one of the fastest-growing areas in the nation, and in close proximity to the hundreds of businesses located throughout AllianceTexas, the first phase of Monterra Village experienced a high level of demand and has continued to maintain over 96 percent occupancy. Hillwood Multifamily began construction on the second phase of the development earlier this year to continue meeting the multifamily housing demand for the north Fort Worth residential marketplace.
Monterra Village is already known for its upscale amenities, including a lagoon-style resort pool, fire pit, state-of-the art fitness center with stand-up tanning bed, pet park, business center and social room with gaming center. Phase II amenities will further enhance the community with a second pool with lap lanes, an additional fitness center and a second pet park with a pet wash station.
For more information about leasing at Monterra Village, visit www.MonterraByHillwood.com, or visit the leasing office at 8301 Monterra Blvd., Fort Worth, Texas 76177.
AllianceTexas (www.alliancetexas.com) is a 17,000-acre, master-planned community anchored by the world’s first industrial airport. It includes the Alliance Global Logistics Hub, Circle T Ranch, Heritage, Alliance Town Center, Saratoga and Monterra Village projects. AllianceTexas is now home to over 300 companies, which have built nearly 32 million square feet and created more than 30,000 jobs. The community also now includes more than 7,700 single-family homes and 288 luxury apartment homes. Since its inception, AllianceTexas has generated $40.65 billion in economic impact for the North Texas region.
Hillwood, a Perot company, is ranked as one of the top commercial real estate investors and developers in the country and as the top residential developer in Dallas-Fort Worth. Hillwood is best known for its Alliance brand that includes the 17,000-acre AllianceTexas, 4,474-acre AllianceFlorida at Cecil Commerce Center and 2,000-acre AllianceCalifornia developments. For additional information about the company, please visit www.hillwood.com.
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