DALLAS--Hillwood Communities has closed on a 755-acre, $700 million residential community called Wolf Ranch in Georgetown, Texas. Wolf Ranch consists of two separate tracts located off of Wolf Ranch Parkway and Highway 29.

“The city of Georgetown is currently witnessing extraordinary growth, and we believe this is the ideal time to create a master-planned community that meets its changing needs,” says Brian Carlock, senior vice president of Hillwood Communities. “We look forward to building what will be Georgetown's largest master planned community as more families move to the area for the outstanding quality of life, school districts and Hill Country views.”

Wolf Ranch will include approximately 1,700 single-family homes, 388 multifamily units, 350 age-targeted units and 20 acres of commercial development. Home prices are expected to range from the high $200,000s to around $550,000. Groundbreaking is expected to occur in the middle of 2015, with model homes available the following spring.

The development, situated one mile from Georgetown's historic courthouse square and just west of Interstate 35, is planned to have over seven miles of trails and over 100 acres of parks and open space. The trails will run throughout the highly wooded community and include a section of the South San Gabriel regional trail. 

“Hillwood Communities is proud to enter the growing market of Georgetown, and expand our footprint in Central Texas,” says Fred Balda, president of Hillwood Communities. “We look forward to working with the city of Georgetown to create a wonderful community for future residents.”

Over 4,000 residents will call Wolf Ranch home after the final building phase is completed within eight to 10 years. Hillwood Communities has two additional developments in the Austin area: Rocky Creek Ranch, near Bee Cave, and Sarita Valley in Leander.