News Article | 7/6/2012

Hillwood Adding 2 Spec Office Buildings at Alliance

Hillwood Properties has unveiled a plan to develop two spec class A office buildings in the 900-acre Alliance Town Center in north Fort Worth. Construction will begin by year’s end on the first structure.

Bill Burton, Hillwood’s senior vice president, said the spec project is demand-based due to an increase in professional jobs moving to the submarket and suburban class A office space. The buildings are in the design phase so the square footage is still being determined.

“We have the opportunity in north Fort Worth to create a fully amenitized class A office park with retail, hotel, open space and amenities that will enable us to attract quality companies that can take advantage of the vast number of residents in the area,” he explained.

A recent 50,000-square-foot lease with Dick’s Sporting Goods jump-started Hillwood’s plan for a second phase at Alliance Town Center, located off Interstate 35W and part of Hillwood’s 17,000-acre AllianceTexas.

First to come out of the ground will be a class A office building north of Heritage Trace Parkway. The design is aimed at large and small corporate users. A second structure will be incorporated into the town center’s lifestyle component and designed to meet needs for small or boutique offices.

Alliance Town Center’s retail component features such names as JCPenney, Belk, Best Buy, Pet Smart, Hobby Lobby, BJ’s Brewhouse and Mi Cocina. It also has been entitled for multifamily and single-family residential options, a comprehensive medical community including medical office buildings and senior living facilities, hotels and entertainment venues. In the coming decade, Hillwood plans to build a majority of its entitled 3,000 multifamily units at the town center.

Opening in September will be Texas Health Resources’ 262,000-square-foot Harris Methodist Hospital Alliance. The project includes a 73,000-square-foot medical office complex.