News Article | 4/22/2008

Hillwood sells portion of Sienna South land

Hillwood has sold 62 acres of its Sienna South project to Fort Bend Independent School District.

Financial terms of the deal were not disclosed.

The sale is the Fort Worth-based developer’s first activity on the land since purchasing 3,800 acres in Missouri City last September from Johnson Development Corp.

The land buy was Hillwood’s entry into the Houston market, according to David Pelletier, spokesman for Hillwood, a Perot company.

Fort Bend ISD has plans to build a high school and elementary school on the site. Construction on the high school is expected to begin this summer with completion scheduled for August 2010.

When completed, Sienna South will have 7,000 single-family homes and 300 acres of retail and commercial space, Pelletier said.

“School sites are a big priority for us, so it is not unusual for us to sell the school sites first,” he said. “There is usually a two-year construction period for schools, so we have homes up before that construction is completed.”