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Hillwood to Break Ground on Huge Mixed-Use Development

DFW: Hillwood is expected to break ground this fall on its first massive residential and commercial mixed-used project. The developer’s first phase will be for 747 single-family home lots at a 3,200-acre mixed used development called Landmark that is located southwest of Denton near Robson Ranch. When built out, Landmark will include a total of about 6,000 single-family homes, 3,000 multifamily homes along several miles near Interstate 35W, and more than 5 million square feet of office, restaurant, retail and other commercial space. The land parcel for the development was among the first that the Perot family acquired in 1987 when the area was called Hunter’s Ranch. Along with the homes, office, retail and restaurant spaces, the community will incorporate green areas, trail systems, and STEAM-themed parks for use by students from surrounding school districts. Model homes are expected in the next two years.

DFW: A North Texas city has made the list of best suburbs in the country. Travel + Leisure has ranked Coppell at No. 5 of the country’s best suburbs. Coppell has a population of more than 43,000 and a median income of about $140,000. The median single-family median home price is just over $640,000. Travel + Leisure noted Coppell’s top-rated schools, its proximity to Dallas-Fort Worth International Airport and its array of parks, and local restaurants and retail shops that offer suitable surroundings for work and play. Another Texas city – Cinco Ranch, near Houston – made the list at No. 2.

TEXAS: More than a week after Hurricane Beryl barreled into the Texas Gulf Coast causing widespread damage and blamed for numerous deaths, power seems to have been finally restored, but the anger toward CenterPoint, the area’s electricity provider, is far from over. Numerous deaths in the Houston-area have been blamed on the storm and CoreLogic says that wind and storm damage to homes and businesses could top more than $3 billion in the Houston area alone. AccuWeather estimates the storm will be blamed for more than $20 million in wind damage and economic losses along its path northward. Homeowners and restaurant owners have filed numerous lawsuits against CenterPoint. State officials are scrutinizing its business and operational practices to ensure that customers do not face the same scenario in the future.

DFW: Real estate happenings around North Texas…Churchill Tower in the Park Central area of North Dallas has been sold by American National Insurance Co. to TXRE Properties. The 25-year-old, 12-story building near Interstate 635 and Central Expressway spans more than 270,000 square feet and is more than 70% leased. Stonelake Capital Partners has acquired 16 acres north of Dallas-Fort Worth International Airport and plans to build two industrial buildings that will total about 280,000 square feet. Groundbreaking is scheduled for the middle of next year. And Costco continues to look to DFW suburbs for new customers. The warehouse giant that already has a dozen stores in North Texas has announced plans for a new store in fast-growing Forney, east of Dallas. Costco already has plans for new stores in Weatherford, Prosper and Celina.

GOTHAM: It’s a condo fit for a king—at least on paper. Seems that an entity associated with King Charles III has purchased a condo in one of the priciest neighborhoods in New York City. Documents show that “His Majesty the King in Right of Canada” (King Charles III) was listed as the new owner of the $6.6 million, 3,600-square-foot unit in Billionaires Row. Canadian officials said that the unit will be used as the official residence of the Canadian Consul General in New York and that King Charles would probably never stay in the 3-bedroom, 4½-bath condo located on the 11th floor of the 111 West 57th Street building, south of Central Park. The pre-war building once served as the headquarters for the Steinway & Sons piano company.

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