Pre-Retirement Community to be developed adjacent to Union Park in Little Elm
January 17, 2017 [Little Elm, Tex.]– Hillwood Communities, a Perot company, just announced that it sold 120 acres in Little Elm to Del Webb, a Pulte Brand and America's leading builder of new homes targeted to pre-retirement and retiring boomers. Del Webb will build approximately 600 new homes with features designed for those 55 years and older to replace their enormously successful, age-restricted Frisco Lakes community.
This deal is one of the only ventures of its kind in the country. Rather than building the new age-restricted community brand on its own, Del Webb is developing the community within the already existing, traditional master-planned neighborhood of Union Park. Little Elm and the high-end Hillwood community had the demographics and neighborhood charm that appealed to Del Webb.
While the new community will provide exclusive amenities for its residents, separate from those of Union Park, Hillwood Communities and Del Webb are motivated to work with each other on this venture.
“Hillwood Communities is excited to have the opportunity to work with Del Webb on such an innovative and efficient deal. Union Park is a beautiful community that has the small town charm that is perfect for Del Webb's popular, age-restricted communities,” said Fred Balda, president of Hillwood Communities. “We know that as neighbors, Del Webb and Union Park will help grow the excellent Town of Little Elm.”
“Union Park's emphasis on an active lifestyle and its sense of community perfectly aligns with Del Webb's commitment to providing active adult buyers the opportunity to thrive in this stage of life by being comfortably connected to their neighborhood and spending time doing activities they enjoy most,” said Bryan Swindell, Dallas division president, Pulte Group. “We're thrilled to be working with Hillwood Communities to bring Del Webb to Union Park, which we believe is a very dynamic community.”
Del Webb plans to begin development immediately and anticipates starting to sell homes in late 2017.
Hillwood, a Perot company, is a premier commercial and residential real estate developer, investor and advisor of properties throughout North America and Europe. With a diverse portfolio of properties and home to many of the world’s leading companies, Hillwood is committed to bringing long-term value to our customers, partners and the communities we serve.
Through its Communities division, Hillwood has delivered more than 25,000 single-family lots in 80 master-planned communities. From single-family homes to high-end luxury vacation residences, Hillwood’s residential communities embrace the company’s Live SmartSM principles: Connection, Well-being, Enrichment, Convenience and Stewardship. For more information, please visit http://www.hillwoodcommunities.com.