Master Planned Development will deliver high-quality housing
with second large purchase from the Wells family
DALLAS – Hillwood Communities, a Perot company, today announced it has acquired an additional 244 acres in the growing North Dallas market in Celina, Texas from the Wells family, who has owned this property since before the Civil War.
“Celina is an emerging market that offers both affordability and excellent schools. With the land’s location near Preston and the Dallas North Tollway, it is clearly in the path of northward growth. Residents will have excellent access to the burgeoning employment centers to the south,” said Ted Wilson, owner, Residential Strategies, Inc. “Hillwood develops exceptional neighborhoods that offer design and amenity features sought by most new homebuyers. We feel that this location, in conjunction with a strong builder line up will produce extraordinary results.”
Hillwood plans to break ground on the development in Sept. 2016, with the first phase of homes being completed in late 2017. The new project will include approximately 900 single-family homes, resort-style amenities, multiple community parks, an onsite elementary school, miles of trails and space for new retail venues. The home price range is estimated to be from $275,000 to $400,000 with the development’s expected contributions to the city’s tax base to exceed $300 million at build out.
Wells family members said they selected Hillwood because of its reputation of developing first-class properties and its long-lasting and mutually beneficial partnerships with the sellers and community stakeholders. Also, they cited the Perot family’s deep history and contributions in North Texas, as well as its reputation for first-class developments.
“On a tour of a Hillwood community in another county, one of their project managers said, ‘we listen to the land, and it tells us how to develop.’ That is the sign of a good developer,” said Marianne Wells.
Rick DeMasters, superintendent, Celina ISD said: “Celina ISD is very excited about Hillwood’s development of a master planned community on the Wells family property. Developments such as Hillwood’s will continue to bring more quality families into our community and will create a need for more schools. Hillwood and Celina ISD have partnered to meet the need for future schools by creating a future site for a new elementary school as part of the master planned community.”
Brian Carlock, senior vice president, Hillwood Communities said: “We are pleased to partner with the Wells family once again to expand our presence in the booming economy of North Dallas. We look forward to creating another first-class Hillwood community in Celina. We are actively looking at even more opportunities to partner with landowners and cities in DFW and around the major Texas markets to develop quality residential and mixed use communities.”
Ross Perot Jr., chairman of Hillwood and The Perot companies said: “It was our good fortune to partner with the Wells family last year. Given the rapid economic growth in North Dallas, we are honored to develop another residential community on this historical land to present those moving to the city with a choice to live in a first-class community.”
David Davidson Sr. served as the broker for this and the previous transaction.
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.
Hillwood is best known for its Alliance brand, featuring the 18,000-acre AllianceTexas, 2,000-acre AllianceCalifornia and 4,474-acre AllianceFlorida. Its founding project, AllianceTexas, has been hailed as one of the best mixed-use developments in the world, generating more than 40,000 jobs and $55 billion in local economic impact to date. Outside of AllianceTexas, Hillwood Investment Properties is focused on institutional-grade industrial/logistics properties and has developed and acquired more than 84 million square feet in North America and Europe.
Through its Communities division, Hillwood has delivered more than 24,000 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 LiveSmart principles, creating a sense of community while integrating technology, healthy living, environmental stewardship and education.
Hillwood also served as the lead developer of marquee projects nationwide, from the Air Force Memorial in Washington, to the Perot Museum of Nature and Science and the American Airlines sports arena in Dallas. For information, please visit www.hillwood.com.