Hillwood Communities, a Perot company, said it has bought 62 acres in the Woodcreek master planned community in Fate from developer John Baker.
Hillwood Communities will develop about 216 home sites, with average home prices expected to be around $250,000. The lots will be ready for home-building in summer 2013, Hillwood said.
Drees Custom Homes has already been building in Woodcreek and is expected to continue doing so on the Hillwood lots. Hillwood expects to announce an additional builder.
Woodcreek is near Interstate 30, Highway 66 and Texas 190 and is in the Rockwall school district.
The community has a swimming pool, playgrounds, clubhouse, fitness center, fishing pond and walking trails.
Since 1988, Hillwood Communities has built 70 communities throughout the U.S. and Costa Rica, developing more than 22,000 lots. Right now, the company has 34 communities in 28 cities and seven states.