Hillwood Communities Acquires 540 Acres for Master-Planned Community

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May 26, 2022, 07:42 ET

Developer plans third community to accommodate Houston growth

DALLAS, May 26, 2022 /PRNewswire/ -- Award-winning residential developer Hillwood Communities, a Perot Company, today announced the acquisition of 540 acres in League City and the intent to develop the land as its third Houston-area master-planned community. The new community, which has not been named, will include 1,250 single-family lots once developed.

This 540-acre purchase will be the site of Hillwood Communities' third master-planned development in the Houston area and another step in the developer's actively growing Houston platform. The League City community will include 1,250 single-family lots ranging from $400,000 to $700,000, served by Clear Creek ISD. The purchase follows the acquisition of Valencia, which closed in October of last year in nearby Manvel, also home of the developer's first Houston community, Pomona. When complete, Hillwood Communities will have a collective total of 4,500 lots across all three communities.

"This acquisition is another step in our plans to help accommodate the ongoing Houston-area growth," said Fred Balda, president, Hillwood Communities. "And we are committed to providing thoughtfully planned, quality communities that Houston residents deserve."

The land, known as the Stedman West Tract, was purchased from the Stedman and Wesley West families, longtime property owners interested in partnering with a developer to maximize the value of their land. The sellers chose Hillwood Communities as their partner because of the company's proven record of success in developing quality, award-winning master-planned neighborhoods that create a strong sense of community among the residents.

"Stedman West Interests, Inc. is honored to partner with Hillwood Communities in this development," said Stedman West. "Hillwood is a world-class residential real estate development organization that we have gotten to know over the last couple of years, and we are confident that they will create a community that League City will be proud of."

Hillwood Communities has not selected the builders for the community or selected a community name. As with all Hillwood developments, Hillwood Communities intends to incorporate meaningful, environmentally conscious measures into an insightful, master-planned development focused on long-term sustainability for the residents and surrounding communities.

"With over 45% of League City yet to be built out, it's extremely important that we seek out and work with residential developers who share our vision of creating thoughtfully planned and quality-built environments that promote community and family," said League City Mayor Pat Hallisey. "We look forward to partnering with Hillwood Communities as we continue to grow in population while still maintaining our small town feel and neighborly charm."

About Hillwood
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 30,000 single-family lots in 90 master-planned communities across 13 states and Costa Rica. These communities continue to raise the bar in terms of quality, innovation, and the unmistakable sense of community that sets each property apart. Before laying the physical groundwork for any new residential development, Hillwood Communities takes the time to focus on the ideals that draw people together — and the everyday interactions that strengthen those bonds. By purposefully designing its walkways, gathering spaces, and structural amenities to spark spontaneous encounters and foster shared interests, Hillwood Communities creates community in every sense. For more information, please visit http://www.hillwoodcommunities.com.

Contact: Russell Bynum
Hillwood Communities
General Manager, Houston
[email protected]

SOURCE Hillwood Communities