Hillwood Communities, a Perot company specializing in creating masterplanned developments, has announced an investment in SouthStar Communities’ existing holdings of residential communities in Texas and Georgia. That includes The Crossings, the newest masterplan in New Braunfels, the second-fastest growing city in the country. SouthStar will continue to manage the operations and development of the community.
“Hillwood Communities represents the pinnacle of master-planned community developers,” said COO of SouthStar Communities, Thad Rutherford. “We’ve long shared the same commitment to delivering well-planned lifestyle communities. This new venture combines SouthStar’s legacy as a community developer, marketer and operator with Hillwood Communities’ unparalleled expertise in the residential community development.”
The two leading companies have previously worked together on several masterplans and are enthusiastic about the continuation of their successful partnership.
“SouthStar is a quality developer and has been operating these assets successfully for years,” said Danny Ellis, Vice President of Hillwood Communities. “We have the exciting opportunity to continue our strategy of investing with other first-class residential developers who have a history of successful operations and developments. We look forward to combining our expertise to develop these great communities and grow this relationship.”
About SouthStar Communities
SouthStar Communities is a nationally-recognized real estate investment, development and management firm headquartered in Austin, Texas, which offers convenient access to The Crossings’ community. SouthStar invests in and develops properties for its own account and in partnership with institutional and high-net-worth investors, and provides services to third-party clients including acquisition, entitlements, planning and development, project management, design oversight, marketing and branding strategy, and asset management. Originally founded in Coral Gables, Florida in 1989, SouthStar has developed over 30,000 acres in 30 communities across the Southern United States. For more information, visit www.SouthStarCommunities.com.
Hillwood, a Perot company, is a premier commercial and residential real estate developer, investor and advisor of properties throughout North America and Europe. Through its Communities division, Hillwood has delivered more than 24,000 single-family lots in 80 master-planned communities, and is best known for its Alliance brand, featuring the 18,000-acre AllianceTexas, 2,000-acre AllianceCalifornia and 4,474-acre AllianceFlorida. Its founding project, AllianceTexas, has been hailed as one of the best mixed-use developments in the world, generating more than 40,000 jobs and $55 billion in local economic impact to date. Visit www.HillwoodCommunities.com for more information.
About The Crossings
New Braunfels continues to have one of the hottest real estate markets in the country, and The Crossings has offered brand-new homes in a desirable and convenient location at the right time in the right place. This new community of single-family homes in the Hill Country from leading builder Lennar Homes offers a total of 16 floorplans ranging in size from 1,600 square feet to more than 3,100 square feet with individual homesites that each back up to a private greenbelt. The serene feel, with rolling hills and thick vegetation that afford a private, country setting, contrast with the great convenience to New Braunfels’ excitement, with nearby shops, restaurants, and work centers.
New Braunfels’ job market is a huge draw for Texas real estate buyers. Not only is the community close to both Austin and San Antonio, but New Braunfels employment growth has created a thriving hub right here in the city. The new HEB Plus just opened down the road, Amazon’s new San Marcos fulfillment center is bringing 1,000 new jobs to the area, and CGT U.S. Limited, a Canadian-based company that’s constructing a new manufacturing facility in the area is adding hundreds more jobs.
Lennar's Everything’s Included (EI) program builds in some of today’s most popular items at The Crossings, like granite countertops, window coverings, and landscape packages, at no extra cost. Their popular Next Gen® Suite offers a unique multigenerational solution with a “home within a home,” and community amenities including trails, green space, and a family pool create a resort feel.