Developer Hillwood Multifamily said Wednesday that it has broken ground on a 262-unit apartment project – the first of almost 3,000 units the developer plans in North Fort Worth.
The second phase of Hillwood's Monterra Village apartments is in the 900-acre Alliance Town Center development development in North Fort Worth.
The first apartments in the project will be ready in September.
“Now is the ideal time to bring additional multifamily units to this market,” Mike Berry, president of Hillwood Properties, said in a statement. “Forecasts indicate this demand will remain strong for some time to come, since there is a limited supply of multifamily product to meet the population explosion in the region.”
Hillwood recently said it plans to build 3,000 apartments over the next decade. Most of them will be located in its 17,000-acre AllianceTexas community in north Tarrant and Denton counties.
Hillwood built the 288-unit first phase of its Monterra Village apartments in 2008 and it is 95 percent occupied.