Residential real estate developer Hillwood Communities recently announced the acquisition of 540 acres of land for its third Houston-area master-planned community.

The new community, which has not yet been named, will include 1,250 single-family lots ranging from $400,000 to $700,000.

“This acquisition is another step in our plans to help accommodate the ongoing Houston-area growth,” said Fred Balda, president of Hillwood Communities, in a press release. “And we are committed to providing thoughtfully planned, quality communities that Houston residents deserve.”

The land, known as the Stedman West Tract, was purchased from the Stedman and Wesley West families, longtime property owners interested in partnering with a developer to maximize the value of their land. The release noted that the sellers chose Hillwood Communities as their partner because of its proven record of success in developing quality, award-winning master-planned neighborhoods that create a strong sense of community among the residents.

“Stedman West Interests, Inc. is honored to partner with Hillwood Communities in this development,” said Stedman West. “Hillwood is a world-class residential real estate development organization that we have gotten to know over the last couple of years, and we are confident that they will create a community that League City will be proud of.”

“With over 45% of League City yet to be built out, it’s extremely important that we seek out and work with residential developers who share our vision of creating thoughtfully planned and quality-built environments that promote community and family,” said League City Mayor Pat Hallisey. “We look forward to partnering with Hillwood Communities as we continue to grow in population while still maintaining our small-town feel and neighborly charm.”