Hillwood Communities, a Ross Perot Jr.-owned company, has sold 120 acres within its Union Park master-planned community in Little Elm to a developer that plans to build a 600-home senior living community.
Del Webb, a Pulte Brand builder, plans to build the senior living community to replace its successful Frisco Lakes community.
The age-restricted community will be developed within the master-planned Union Park project, with exclusive amenities separate from those within Union Park.
This “innovative and efficient deal,” will work well for both parties as the two developers become neighbors, said Fred Balda, president of Hillwood Communities.
The Del Webb community is designed for those 55 years and older, appealing to pre-retirement and retiring baby boomers.