Hillwood Multifamily, a subsidiary of Dallas-based Hillwood Properties, announced Wednesday it plans to develop a luxury apartment community on 13 acres of land within the Alliance Town Center master-planned development.
The 306-unit apartment property will be called SageStone Village.
The project is part of Hillwood’s strategy for developing high-quality apartments in AllianceTexas. SageStone Village will be next to Alliance Town Center’s retail, restaurants and entertainment options.
With the rapid population growth in the North Texas region, Hillwood decided to move forward with the project to fulfill that demand, Hillwood President Mike Berry said.
SageStone Village will have a resort-style pool, outdoor living spaces and granite counter tops among its amenities. The project will deliver its first units during the fourth quarter of 2013, with completion expected in 2014.
This new project brings Hillwood’s total investment of apartments at Alliance Town Center to 856 units.