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.