News Article | 8/16/2006


DALLAS – Hillwood has purchased a 22-acre tract at the southwest corner of Royal Lane and Inwood Road in Dallas to develop the only gated, luxury-home community offering creek lots in Preston Hollow.

“Any sizeable parcel of land inside the Interstate 635 Loop is very rare,” said Fred Balda, president of Hillwood Residential. “This quiet, seasoned neighborhood has much to offer: easy access to major thoroughfares, the Dallas North Tollway and the largest selection of shopping, dining and entertainment in Texas. Additionally many private schools are located just minutes away.

“We look forward to creating Dallas’ most exclusive new community with 17 one-acre home sites priced from $1.5 to $3.5 million,” Balda added “This is a unique assemblage of land in one of the most sought-after locations in the Dallas area.”

In addition to the unprecedented location in north Dallas’ Preston Hollow area, the community will be gated with a 24-hour, manned guardhouse to preserve the privacy of residents. Concierge services will be provided offering a unique twist for a luxury, single-family residential neighborhood.

“The level of quality and service will be similar to what buyers expect from luxury high-rise living, but with the privacy and seclusion of a single-family enclave,” Balda added.

Luxury residences will be priced from $4 to $12 million with many homes on wooded or creek home sites. Only Dallas’ finest luxury home builders will be building in The Creeks of Preston Hollow including Platinum Series Homes, Calais Homes and Geoffrey Grant Custom Homes. A fourth builder is expected to be announced soon.

Strict architectural guidelines will ensure the highest quality neighborhood environment, authentic Old World European architecture and an exceptional level of craftsmanship.

Development of the site will begin this month with lot delivery scheduled for early 2007.

Since 1990 Hillwood has developed residential communities with innovative features and top recreation amenities. The company has delivered more than 17,000 single-family lots in more than 30 cities throughout the Dallas-Fort Worth area over the past 16 years.

Hillwood’s other North Texas residential projects currently under development include Heritage in Fort Worth, Heartland in Kaufman County, Chisholm Ridge in Fort Worth, Liberty in Melissa, Saratoga in Fort Worth, Creekwood in Saginaw, Twin Creeks in Allen, Mustang Creek in Forney, Harmony in Red Oak, Gateway Estates in Glenn Heights and Falcon’s Lair in Mesquite. In Jackson Hole, Wyoming, Hillwood is developing Bar BC Ranch.

Hillwood, a Perot company, is ranked as one of the top commercial real estate developers in the country and the top residential developer in Dallas-Fort Worth. The company’s developments currently house facilities for 82 companies listed on either the Fortune 500, Global 500 or Forbes List of Top Private firms. In addition to its residential communities, Hillwood is best known for its development of the 17,000-acre AllianceTexas project, located 15 miles northwest of DFW Airport, AllianceCalifornia in San Bernardino and the $420-million American Airlines Center and Victory district near downtown Dallas.

# # #