Dallas-based Hillwood Communities recently celebrated its most successful year to-date, with all sectors of the company's business — revenue, acquisitions and development activity — hitting on all cylinders.
“This past year was our most successful year to date in the company's 25 years,” said Fred Balda, president of Hillwood Communities. “The builders are scrambling to buy lots, and it's not speculative building, there's homebuyers that want to buy.”
The company expects the trend to continue this year, Balda said.
“We believe there is pent-up demand for homes and we are benefiting from that because there's an under supply of homes,” Balda said.
With that in mind, Hillwood Communities has been positioning itself during the downturn to be ready for this projected growth. It's a philosophy that permeates the other Hillwood real estate entities.
Last year, Hillwood Communities bought 11 properties in four markets earmarked for growth: Dallas-Fort Worth, Austin, San Jose, Calif., and Jackson Hole, Wyo. About seven of those properties are located in North Texas.
The acquisitions: Five parcels totaling 675 acres in Northlake, a 136-acre tract in Lucas, and a 62-acre tract of land in Fate.
Hillwood Communities recently began developing a $1 billion, 1,000-acre residential master-planned mixed-use community in Northlake and Argyle. The community will have 3,000 single-family homes.