laid the foundation

Perry Wallace, a 20-year industry veteran who had been Dallas-based FirstWorthing Corp.'s director of construction services, has been named vice president to set up and lead the Hillwood division. Wallace has gained enough traction with the plan during his five months at Hillwood that details are ready to discuss.

Wallace has assumed oversight for Hillwood's foray into the sector, the 288-unit first phase of the 130-acre Monterra Village, which broke ground in March on 22 acres at the intersection of North Tarrant Parkway and Interstate 35W. The three-phase development will have 1,026 apartments at build-out in an emerging neighborhood with a medical office park, retail and restaurants. Andres Construction Services of Dallas will deliver the first units in February 2008, with the balance on line by June.

By first quarter 2008, Wallace tells GlobeSt.com that ground will break on a 400-unit first phase to an as-yet unnamed complex on the northeast corner of US Hwy. 170 and Old Denton Road near Cabela's along Interstate 35W. Hillwood has just hired Beeler Guest Owens Architects LP of Dallas to design the two-phase, 750-unit project in AllianceTexas' Gateway corridor. The first units will deliver 11 months after construction begins, Wallace says.