News Article | 3/10/2010



Contact: David Pelletier, Hillwood (817/224-6044)

                [email protected]


ALLEN, Texas (March 10, 2010) – Hillwood today broke ground on one of the final phases of the 2,400-acre Twin Creeks residential community in Allen, Texas. The next phase includes 40 lots in the Lexington Village section of Twin Creeks, which is the largest master-planned community in Allen.

      Homes on the new lots will be built by Sanders Custom Homes ( and will be offered from $500,000 to $900,000. The lots are expected to be completed by the end of the year.

      After this phase, only 59 more lots will remain to be developed in Twin Creeks. Thirty of those lots are in the Lexington Village section. The remaining lots are in the Wimberley Place section, where homes start at $1 million.

      Since 1993, when development began on Twin Creeks, the master-planned residential community has been a key part of the growth of the city of Allen. Twin Creeks has accounted for approximately 25% of the area’s new home closings over the past decade. Since 1993 Allen’s population has almost quadrupled from 22,728 in 1993 to more than 83,000 today. The number of people working in the city also has grown, from 4,200 in 1993 to 39,423 today.

      “Allen is a shining star in North Texas in terms of job growth and residential growth,” said Fred Balda, president of Hillwood Residential. “The city is one of two places in North Texas that has a tight supply of lots. While some areas of North Texas have lot supplies of more than 100 months, Allen’s lot supply is close to equilibrium (24 months) with a 29.4-month supply. We expect that number to drop in the next few months, in part due to the federal homebuyer tax credit.”

      Despite the recent slump in residential real estate, there have been 450 housing starts in Allen over the past 12 months. The city also added 500 jobs in 2009, and with the new Cisco Systems Data Center and the recent expansion by Experian, another 400 new jobs have already been created in 2010.

      Twin Creeks ( is located southwest of the intersection of North Central Expressway (U.S. 75) and Texas State Highway 121, primarily between Exchange Parkway and McDermott Rd.

      The 18-hole daily fee Arnold Palmer-designed Twin Creeks Golf Club is one of the many amenities that are part of the Twin Creeks development. Residents of Twin Creeks also enjoy extensive hike and bike trails, an on-site elementary school, two swimming pools, lighted tennis courts, a sand volleyball court, basketball courts and baseball/softball diamonds.

      Since 1989 Hillwood has developed residential communities with innovative features and top recreation amenities. The company has delivered more than 19,000 single-family lots in more than 30 cities throughout the Metroplex over the past decade.

      Hillwood (, a Perot company, is one of the country’s leading residential and commercial real estate developers and investors. The company is best known for its development of the 17,000-acre AllianceTexas project, located 15 miles northwest of DFW Airport; the $420-million American Airlines Center and Victory district near downtown Dallas; and the 2,000-acre AllianceCalifornia development near Los Angeles.


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