Dallas-based Hillwood—a Perot company that’s one of the top industrial, commercial, and residential real estate developers in the U.S.—has long had a major presence in Fort Worth. That includes its 27,000-acre master-planned AllianceTexas development, home of the Mobility Innovation Zone. But incredibly, Hillwood has never made a development play in downtown Fort Worth.
Until now.
Today Hillwood announced it has acquired a full city block in the heart of downtown Fort Worth, reinforcing the company’s “longtime commitment” to the city and marking its first investment in the downtown district. The property’s boundaries include 6th and 7th Streets to the north and south and Calhoun and Jones Streets to the east and west.
“Hillwood’s impact at AllianceTexas and numerous urban developments throughout the region have been immeasurable,” Fort Worth Mayor Mattie Parker said in a statement. “The work already happening in downtown Fort Worth is transformational for our city’s future, and Hillwood’s entry into downtown signals the value of what is possible.”
Hillwood’s first investment in Fort Worth—and its first partnership with the city—happened 35 years ago with the development of Perot Field Fort Worth Alliance Airport. In the decades since, the impact of AllianceTexas has been enormous, with 560 companies generating $111 billion in regional economic impact and 66,000 direct jobs, according to Hillwood. That’s led to everything from robot delivery couriers on streets in The MIZ to companies pouring nine-figure investments into high-tech manufacturing plants at AllianceTexas.
Development plans for Fort Worth block ‘still under review’
So what’s Hillwood going to do on the big downtown Forth Worth block? The company said that “specific development plans for the property are still under review.” But Hillwood is looking at a variety of land use and development options it says “will complement existing trends in the downtown Fort Worth market.”
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