Developer Hillwood Communities said Wednesday that it has purchased land near Rockwall northeast of Dallas for 216 single-family home sites.
Hillwood purchased 62 acres in the Woodcreek community in the town of Fate. The property was bought from developer Jim Baker.
Terms of the sale were not disclosed.
Homes built on the property will be priced near $250,000, the developer said.
“We chose this community because of its wonderful master plan, outstanding schools and superb quality of life that both Hillwood and home builders expect in our neighborhoods,” Fred Balda, president of Hillwood Communities, said in a statement.
Woodcreek is located near Interstate 30 and has homes priced from around $150,000 to more than $300,000. Builders in the community include Drees Homes, David Weekley Homes and Horizon Homes.
Hillwood Communities is a company owned by Dallas businessman Ross Perot Jr. that has been in business since 1988. Hillwood has built 70 communities with more than 20,000 lots in North Texas and in other markets.