Developer Hillwood said Friday that it has purchased a 1,267-acre residential project in Waxahachie.
The Saddlebrook Estates development is on U.S. Highway 287 about 25 miles south of downtown Dallas.
Hillwood – already one of North Texas’ largest residential land developers – said it bought the property from Centurion American.
The project is planned to contain 2,900 home lots plus about 54 acres for commercial retail and apartment development.
Development plans also include four swim clubs, 275 acres of park land, plus hiking and bike trails.
“Waxahachie is a promising emerging market that will continue to expand over the next few years,” Brian Carlock, Hillwood Residential vice president, said Friday in a prepared statement. He said the project “will offer a high quality of life due to its easy commute to the Dallas business districts.”
Homes in the community are expected to cost $150,000 to $300,000.
Hillwood has developed more than 18,000 residential lots in the Dallas-Fort Worth area since 1988.