FORT WORTH, Texas (August 13, 2009) – With recent data indicating a more positive outlook for the housing industry, Hillwood will become one of the first companies in North Texas to develop new single-family lots when it breaks ground on August 13 on the next phase of its highly successful master-planned Heritage community in north Fort Worth. The company will develop 78 lots on 30 acres in the Bluffs section of Heritage.
“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. “In addition due to continued job growth in the Alliance area and a pent up demand for housing, Fort Worth’s economy is expected to improve faster than many areas of the country. 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.”
Since opening in April 2001, Heritage has consistently been among the top five communities in North Texas, based on new home starts. According to Residential Strategies, a local firm that researches DFW new home activity, over the past year Heritage had 232 starts, which ranks second in North Texas. Home prices in Heritage also continue to hold at a strong average price of $230,000, with a range of sales from $164,000 to $500,000. While new homes are maintaining their values, pre-owned homes are experiencing an approximate 4.6% increase. Approximately 7,000 residents currently live in the 2,600 occupied houses in Heritage.
Scott Minke, Heritage HOA Board Member and a home owner in the community for seven years, said, “It’s especially nice to know that as a Heritage resident my property value is not solely based on my home, but rather by what surrounds it. Top-notch amenities like the water park, spray park, walking trails and a multi-functional clubhouse make Heritage a wonderful place to buy a house, sell a house, or live in one.”
Industry leading home builders Toll Brothers and Standard Pacific will offer a variety of floor plans with prices starting at $280,000.
Known for innovative features and high-quality amenities that are incorporated into its communities, Hillwood created Heritage as its first “connected” community by leveraging state-of-the-art technology into each home. This 2,300-acre neighborhood was also among the first to feature extensive landscaping and world-class recreational amenities, such as 10 miles of hike and bike trails, more than 100 acres of parks and open spaces, swimming pools, tennis courts, and a recreation/community center. It showcases a multi-million dollar, 10-acre aquatic complex with waterslides and seven pools, as well as pocket parks and a spray park strategically positioned throughout the neighborhood.
Heritage is fortunate to be located in the highly-acclaimed Keller Independent School District. Families with children also benefit from the three on-site, state-of-the-art elementary schools within walking or biking distance, along with the new Central High School. Parents are encouraged to communicate electronically with their children’s teachers. Technology makes it easy to get missed homework assignments for students who are at home during an illness. The progressive educational programs being used by Keller ISD, along with the talented teachers make Keller one of the most sought-after districts for families moving to North Texas.
Residents are also connected through the community “Intranet,” where they can communicate with their neighbors via the web site or serve on one of the neighborhood committees that make Heritage such an energized place to live. The Club House at Heritage has become a popular gathering place for parties and covered dish dinners. While some people eat, others are in the next room exercising on state-of-the-art equipment. Or—there are those who are using the WiFi capabilities at the Club House, while another group is watching a playoff game in the TV room on comfy sofas.
The Realtor® community solidly supports Heritage because of Hillwood’s reputation of quality development in Tarrant County, coupled with two decades of incentive programs targeted to Realtors® and Hillwood’s commitment to fostering strong and long-term relationships with them. Many Heritage residents have relocated from different parts of the country, and often Realtors® are their first point of contact. Realtors® continue to be a critical partner of the Hillwood team, and as a testament to their commitment, Realtor®-assisted sales in Heritage account for 68% of the annual sales.
Heritage’s front door is anchored by a new retail complex, Alliance Town Center, which boasts the opening of stores at a time when many stores nationwide are closing. JC Penney, Belk, Sam Moon, Rue 21, Jason’s Deli, Which Wich and Kincaid’s are just a few of the thriving retailers, with most performing in the top 1% of all of their local or national locations.
Heritage has been and will continue to be a shining star in Dallas/Fort Worth, which is one of the largest and most robust real estate markets in the country.
Hillwood Residential (http://www.hillwoodresidential.com/) was founded in 1988 by Ross Perot Jr. so that this new division could begin to develop single-family residential communities to complement the new airport and logistics hub in what would become AllianceTexas. Hillwood Residential has not only developed four master-planned communities in AllianceTexas, but it has also delivered more than 19,000 single-family lots in more than 30 communities over the past 20 years.
Staying competitive and on the cutting edge of technology and efficiency—that’s Hillwood Residential. Where great things develop.
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