Hillwood Communities, a Perot company, has acquired 52 acres of residential and commercial land at the northeast corner of F.M. 1709 and Golden Triangle Boulevard and Beach Street in North Fort Worth for future development.
The development will bring a community to the area, said Brian Carlock, senior vice president for acquisitions for Hillwood Communities.
Hillwood will begin construction late this year to improve the Beach Street intersection and will widen it for nearly a mile. The crossroad will improve mobility in the area and add to access to Alliance Town Center, officials said.
Ken Reimer and David Davidson Jr. of Venture Commercial Real Estate represented Hillwood Communities, and the seller of the land, Realty Capital Golden Beach. The team will continue to assist Hillwood in securing retail tenants for the commercial portion of the project.
Hillwood is planning to market the property for commercial use, such as a gas station, grocery, medical office and restaurants.
The financial details of the acquisition were not released.