News Article | 8/19/2009

Hillwood eyes more homes for Alliance

The Alliance area continues to defy the economic odds, with developers announcing the next phase of Hillwood Residential’s Heritage community.

“It makes sense to start a new phase of Heritage at this time because of what the market is telling us,” said Fred Balda, president of Hillwood Residential.

Pointing to ongoing job growth and housing demand in the Alliance area, Balda said he hopes the next phase will meet mounting housing demand.

“This next phase will allow us to work with our builders to meet the demand of buyers looking to locate in the highly amenitized Heritage community,” said Balda, making his comments in a press release.

New homes in the Heritage community have sold for between $164,000 and $500,000, with an average price of $230,000. About 232 homes in the development began construction in the past year, according to Residential Strategies, which monitors new home development in the Dallas-Fort Worth area.

Located in the Keller school district and near the retail-rich Alliance Town Center, Heritage is among four master-planned communities in Hillwood’s AllianceTexas development.