Perot company Hillwood Communities – builder of master planned developments – is partnering with Dallas-based real estate development firm Wynne/Jackson to build 350 home community in Celina.
Highlights:
- Newly formed venture acquired 119 acres in Celina, Texas, which has preliminary plat approval for development into a maximum of 350 single-family residential lots.
- Construction is planned to start in September 2016 and homes are expected to be priced between $350K-$425K.
- Two of the largest privately owned homebuilders in Texas, Horizon Homes and Perry Homes, will be the homebuilders in the project.
Background:
- Wynne/Jackson began studying the area in 2014. The location between Preston Road and the Dallas North Tollway appealed and is one of the key factors that makes this tract ideal for a housing community.
- The property was purchased from the Glendenning Family, who emigrated from Scotland to Texas in 1887.
- Zoning of the property with the city was completed in February 2015, a Public Improvement District was created in April 2016 and the city of Celina approved the land as a tax increment reinvestment zone on June 14, 2016.
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