Dallas, TX (October 21, 2014) – Hillwood Communities, a Perot company, has closed on a 755-acre, $700 million residential community, Wolf Ranch, in Georgetown, Texas. Wolf Ranch consists of two separate tracts located off of Wolf Ranch Parkway and Highway 29 in the city’s extra-territorial jurisdiction.
“The city of Georgetown is currently witnessing extraordinary growth, and we believe this is the ideal time to create a master-planned community that meets its changing needs,” said Brian Carlock, Senior Vice President of Hillwood Communities. “We look forward to building what will be Georgetown’s largest master planned community as more families move to the area for the outstanding quality of life, school districts and Hill Country views.”
Wolf Ranch will include approximately 1,700 single-family homes, 388 multifamily units, 350 age-targeted units and 20 acres of commercial development. Home prices are expected to range from the high $200,000s to around $550,000. Groundbreaking is expected to occur in the middle of 2015, with model homes available the following spring.
The development, situated one mile from Georgetown’s historic courthouse square and just west of I35, is planned to have over 7 miles of trails and over 100 acres of parks and open space. The trails will run throughout the highly wooded community and include a section of the South San Gabriel regional trail. As part of its open space Hillwood plans to maintain existing ravines, steep slope areas, and floodplain. In addition the project will dedicate 20 acres of parkland to the city along the South San Gabriel River.
“Hillwood Communities is proud to enter the growing market of Georgetown, and expand our footprint in Central Texas,” said Fred Balda, President of Hillwood Communities. “We look forward to working with the City of Georgetown to create a wonderful community for future residents.”
Over 4,000 residents will call Wolf Ranch home after the final building phase is completed within 8 to 10 years. Hillwood Communities has two additional developments in the Austin area: Rocky Creek Ranch near Bee Cave and Sarita Valley in Leander.
About Hillwood Communities
Hillwood, a Perot company, is ranked as one of the top commercial and residential real estate investors and developers in the country. Since its inception in 1988, Hillwood Communities, the residential division for Hillwood, has built 70 communities throughout the United States and Costa Rica, and has developed more than 23,000 lots. Currently, the company oversees 35 active communities in 28 cities and seven states. Hillwood’s industrial developments currently house facilities for 58 companies listed on the Fortune 500, Global 500 or Forbes List of Top Private firms. Hillwood is best known for its Alliance brand that includes the 17,000-acre AllianceTexas, 4,474-acre AllianceFlorida at Cecil Commerce Center, and 2,000-acre AllianceCalifornia. For additional information, please visit hillwood.com and hillwoodcommunities.com.
###
Austin American-Statesman: A $700 million master-planned project is in the works for Georgetown that could bring 2,000 houses, hundreds of apartments and other development to a fast-growing part of the Central Texas region. The developer of the proposed 755-acre Wolf Ranch project is Hillwood Communities, a Texas-based real estate firm owned by Ross Perot Jr. The land consists of two separate tracts along Texas 29 off Wolf Ranch Parkway, about 1 mile from the city’s courthouse square. See full story.
Austin Business Journal: The short-term prognosis for new housing in Austin is all systems go. The long-term situation could be greatly tempered, however, by escalating material costs, labor shortages and fewer attractive land options. That was the opinion of three experts at a breakfast presentation sponsored by the Austin chapter of the Urban Land Institute. Brian Carlock, senior vice president of acquisitions for Hillwood Communities, based in Dallas, said, “Austin is an amazing place, and Texas is the envy of the entire country. We love being here in Austin, but the challenge is affordability.” See full story.
GlobeSt.com: Hillwood Communities, in partnership with McGuyer Homebuilders, Inc., has broken ground on Pomona, its first Houston-area master-planned community located in the heart of the rapidly growing Highway 288 corridor in Manvel. See full story.
Commercial Property Executive: Hillwood Communities, in a joint venture with McGuyer Homebuilders Inc., has broken ground on Pomona, a $700 million master-planned residential development in the heart of the rapidly growing Highway 288 corridor. To be built on 1,000 acres near the intersection of SH288 and County Road 101 in Manvel, the high-quality community will feature approximately 2,100 single-family homes.See full story.
Connected Home World: Hillwood, the home and communities construction company, has selected Prodea's Residential Operating System (ROS) to offer the latest connected home services within its communities. The Prodea managed service will include home security, automation, entertainment, education, health and wellness, interactive advertising and enhanced voice services. See full story.
Dallas Business Journal: Richardson-based Prodea Systems recently entered into partnership with Hillwood Communities to bring the technology company’s connected-home to new developments. Prodea software, when combined with a set-top box or receiver, can communicate with any electronic device in the house, allowing the user to customize their home to fit schedules, lifestyles and security preferences and remotely access connected items from a mobile device. See full story.
Prodea Systems and Hillwood Communities today announced that they are working to bring Prodea’s groundbreaking Residential Operating System (ROS®) experience to Hillwood master-planned communities. Through ROS, Prodea Systems plans to deliver a diverse range of entertainment, education, health and wellness, social TV, home security, automation, interactive advertising and enhanced voice services into its mixed-use residential and commercial communities.
Community Impact (Austin Metro): Georgetown City Council members approved a resolution giving conditional consent for the developers of the Wolf Ranch proposed master-planned community to seek creating a municipal utility district, or MUD, for the development within the city limits. Hillwood Communities has proposed a 750-acre primarily residential master-planned community. Councilman Steve Fought and other council members expressed concerns about the development, expressing their interest in seeing commercial development included. See full story.
Fort Worth Business Press: As developer of the mixed-use AllianceTexas development, Hillwood knows a thing or two about master-planned projects. Their new development, Harvest, has upped the stakes. By embracing the emerging agrarian living movement, Hillwood Communities is going green like few other companies. But that's just one of five parts of what Hillwood calls its LiveSmart design principles: sense of community, technology, healthy living, environmental stewardship, and education and enrichment. See full story.
