Hillwood Communities has purchased 1157 acres for a new master-planned community to be named Pecan Square. Pecan Square will be a new development in Northlake Texas, west of I-35 along FM 407. Pecan Square will feature new homes from Ashton Woods, CalAtlantic (aka Lennar post-merger), D.R. Horton, David Weekley, Highland, Perry, Plantation and Pulte. Hillwood Communities expects to break ground on Pecan Square in the spring of 2018 with new homes arriving to the market in the summer of 2019.

New home prices in Pecan Square are slated to start in the mid $200’s. Pecan Square will offer 40′, 50′, 60′ and 70′ lots in the first phase of development. Future plans suggest 1-acre lots and townhomes could also be part of Pecan Square.

The first phase of Pecan Square on FM 407 should have more than 600 homes in the first phase. Part of the old Woodhill Farm equestrian center will be re-purposed as a community center according to the developer, and many of the existing pecan trees will remain as a branding feature.

Hillwood Communities donated 15 acres to Northwest ISD as part of the project which will be home to a new elementary school in the community. In turn Northwest ISD purchased 150 acres in the development to house a new middle school, high school and football stadium.

Hillwood is looking to piggy-back on the success of a nearby development, Harvest, which is served by Northwest ISD and Argyle ISD.Argyle. Harvest is a 1200-acre community that should have 3200 homes at build-out. Pecan Square and Harvest are part of the active development going on throughout Denton County.

It will be interesting to see how the community of Pecan Square is received when it is finally offered to the public. Home inventory in Denton County has been extremely tight for several years, but that trend looks to be reversing. The market is likely going to be a bit more competitive when Pecan Square sells its first home. Average home prices in the city of Northlake show to be 5% lower year-over-year in October as the number of homes for sale has risen 77 percent year-over-year.