The second phase of a 130-acre, mixed-use community in Fort Worth began construction this week. Phase two will include 262 apartments and will add on to the existing townhome-style apartments.
Ross Perot Jr.'s Hillwood Properties owns Monterra Village, which is located in the company’s 900-acre Alliance Town Center development in North Fort Worth. Preleasing for the apartments is expected to begin in the second quarter of this year, and completion is scheduled for September.
“Now is the ideal time to bring additional multifamily units to this market,” said Mike Berry, president of Hillwood Properties. “Rapid growth in North Fort Worth, demand for greater housing diversity, and lifestyle and demographic shifts are driving demand for high-quality multifamily developments within the AllianceTexas submarket. Forecasts indicate this demand will remain strong for some time to come.”