Developer Hillwood will team up to turn part of the Perot family’s Circle T Ranch north of Fort Worth into a 130-acre mixed-use development.
Hillwood said Wednesday that it will build the $1 billion Westlake project in partnership with Howard Hughes Corp., which owns a section of the land.
The proposed development on State Highway 114 will include a new 500,000-square-foot office campus for Charles Schwab Corp.
“Schwab caused us to really change the plans for the property,” said Mike Berry, president of Hillwood Properties. “They need support development adjacent to their office campus.