News Article | 1/13/2012

Realty Capital, Hillwood partnership readies 1,000-acre development

Residential developer Hillwood Communities said Friday that its starting work soon on its next project in the Interstate 35W corridor.

Hillwood is teaming up with Dallas’ Realty Capital Management to develop 1,000 acres between Fort Worth and Denton on F.M. 407

The new master-planned residential community will be called Belmont and will have homes priced from near $200,000 to more than $400,000, according to Hillwood.

About 2,500 homebuilding lots and 130 acres of supporting mixed-use construction are planned over time for the Belmont project.

Hillwood has already built large residential projects and commercial developments in the area along I-35W north of Fort Worth.

”Hillwood is proud to continue the AllianceTexas legacy of success with a new master-planned community in the expanding north Fort Worth area,” Fred Balda, president of Hillwood Communities, said in a statement. “Hillwood has seen tremendous success in this popular area and we are excited to begin improvements that will greatly enhance the area for new businesses and residents.”

Hillwood plans to start work on the Belmont project this summer.

Founded by Dallas’ Perot family in the late 1980s, Hillwood Communities has built 70 residential communities across the United States including several large projects in North Texas.