HOUSTON – (Realty News Report) – Residential developer Hillwood Communities, a Perot Company, acquired 540 acres in League City for a master planned community with 1,250 single-family homes.
The new community, which has not been named, will be Hillwood’s third Houston-area master-planned community.
Located of the southeast of Houston, the League City community will include homes ranging from $400,000 to $700,000, served by Clear Creek ISD, which included northern Galveston County.
The League City purchase follows Hillwood’s acquisition of Valencia in Manvel, near Hillwood’s first Houston community, Pomona.
The League City 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.
Stedman West Interests
“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 percent 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.”
Hillwood, a company affiliated with Ross Perot Jr. of Dallas, is a commercial and residential real estate developer, investor and advisor of properties throughout North America and Europe. Hillwood developed the 27,000-acre AllianceTexas, a business park with an airport,
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.
Hillwood in Houston
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.”
May 30, 2022 Realty News Report Copyright 2022
File: Hillwood Buys 540 Acres for New Residential Community
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File: Wesley West. Stedman West. Hillwood Buys 540 Acres for New Residential Community in League City. Galveston County. Clear Creek ISD. Manvel. Pomona