Hillwood announced last week the purchased 1,267 acres of the Saddlebrook Estates development in Waxahachie from Centurion American.

The property is located east of Interstate 35E and along the north side of U.S. Highway 287 and is zoned as planned development for single-family, multi-family, duplex, retail and commercial uses.

The planned development overlay requires Saddlebrook Estates to have a variety of lot sizes, amenities, landscape standards and specific building requirements.

“The development and building standards within this master-planned community encourage a level of quality and amenity that exceeds the normally required standards,” according to a company press release.

Plans for Saddlebrook Estates include 2,900 single-family lots ranging from 6,600 square feet to 12,500 square feet. About 36 acres along the Highway 287 frontage are set aside for commercial and retail development. Another 18 acres are available for multi-family use.

“Waxahachie is a promising emerging market that will continue to expand over the next few years,” said Brian Carlock, vice president for Hillwood Residential. “Saddlebrook Estates is the first amenity-rich master-planned community in this market or surrounding markets.

“It will offer a high quality of life due to its easy commute to the Dallas business districts and its amenities, which include four swim clubs, 275 acres of parks, several playgrounds, miles of hike and bike trails, on-site schools, and multiple home builders, with various price ranges and lot sizes,” he said.

The population of Waxahachie is expected to increase by 15 percent by 2011, according to the Hillwood release, which notes Ellis County is the second fastest growing large county, with 100,000-plus residents, in North Texas behind only Collin County.

New homes will be priced from $150,000 to $300,000, according to the release, which notes Saddlebrook Estates is located in the Waxahachie ISD.

Hillwood has developed residential communities since 1988, delivering 18,000-plus single-family lots in more than 30 cities throughout North Texas, including Fort Worth, Dallas, Plano, McKinney, Melissa, Saginaw, Allen, Frisco, Grapevine, Trophy Club, Forney, Rockwall, Glenn Heights, Red Oak and Mesquite.

Communities under development include the Creeks of Preston Hollow in Dallas, Heritage in Fort Worth, Heartland in Kaufman County, Chisholm Ridge in Fort Worth, Liberty in Melissa, Saratoga in Fort Worth, Creekwood in Saginaw, Twin Creeks in Allen, Harmony in Red Oak, Gateway Estates in Glenn Heights and Falcon’s Lair in Mesquite. In Jackson Hole, Wyo., Hillwood also is developing Bar BC Ranch.

Hillwood also developed the 17,000-acre AllianceTexas project located 15 miles northwest of DFW Airport; the $420-million American Airlines Center and Victory district near downtown Dallas; and the 2,000-acre AllianceCalifornia development near Los Angeles.