News Article | 7/16/2007

Hillwood hires Monterra head

Hillwood Properties has named veteran construction manager Perry Wallace as vice president of multifamily development. His first assignment is to oversee development of Monterra Village, a 130-acre mixed-used project in north Fort Worth, which has already begun construction.

For the past six years, Wallace served as director of construction services for FirstWorthing, where he oversaw pre-construction activities for 1,500 units in nine projects in Texas, California and Louisiana.

“Perry will bring expertise in multifamily development to the Hillwood Properties team, not only for Monterra Village but as we move forward to develop more mixed-use products at Alliance Town Center and other apartment communities along the Alliance Corridor,” said Mike Berry, president of Hillwood Properties, in a prepared statement.

Monterra Village is located on a block of land at the intersection of North Tarrant Parkway and Interstate Highway 35W at the southern gateway of AllianceTexas. Nearly half of the development will be preserved as grazing fields and natural areas of trails, streams and ponds.

The first apartment residences of the 288-unit phase one – designed by Womack + Hampton Architects LLC – will open in February 2008 and will include several live-work “business” units. A large community center with recreation facilities and a fitness center will also be part of the initial phase, which is scheduled to be completed in June 2008. The overall master plan for the village includes more than 1,000 residential spaces, along with a medical office park, retail establishments and restaurants.

Joe Petersen, managing director at LiveWorkLifestyle, is Hillwood’s consultant for the project.

Monterra by Hillwood, a Perot company, is part of the 17,000-acre AllianceTexas development, which includes the Alliance Global Logistics Hub, the high-tech mixed-use Heritage residential development and Circle T Ranch, a master-planned community.