A 3,200-acre master-planned community to be built in Denton by Ross Perot Jr.'s Hillwood aims to effectively be a city of its own within the growing municipality.

The mixed-use project at Interstate 35W and Robson Ranch Road could add more than 20,000 residents and be valued at $10B once it is finished, according to Hillwood officials. Landmark by Hillwood plans to feature 6,000 single-family homes, 3,000 multifamily units, 900 acres of commercial space and 1,100 acres of parkland, The Dallas Morning News reported.

The project is expected to be a significant economic engine for Denton, Hillwood President Mike Berry said.

“We’ve got a huge clean sheet of paper,” Berry said during an unveiling celebration for the project Thursday. “You start with a master plan but never know what opportunities are going to come your way.”

The project's initial phase consists of 600 apartments and 120 acres of retail, restaurants and entertainment space, including Denton's first H-E-B. Almost 750 single-family lots will also be constructed, with nine homebuilders signed on. Model homes are expected to be ready in the spring.

The master-planned community will also have three Denton ISD schools as well as learning parks dedicated to different subjects.

The project will be the best product that Hillwood has done, Perot said.

Landmark will be constructed on the historic Hunter Ranch property that the Perot family has owned since 1987.

Describing the project as an “entry gateway to Denton,” company officials said Landmark is almost an expansion of the developer's vision for the 27,000-acre AllianceTexas master-planned community in North Fort Worth.

Denton Mayor Gerard Hudspeth said the project will attract new residents and fill a need for high-end homes that a recent housing study identified for the city.

“The uniqueness of the residential and commercial component is unrivaled,” Hudspeth said.

The H-E-B-anchored retail center is slated to open in 2027. In addition to the Landmark location, the Texas grocery goliath plans to construct another Denton store at University Drive and Bonnie Brae Street beginning next year.

H-E-B will also start work on a $14.4M fulfillment center in Denton County next summer, according to a filing with the Texas Department of Licensing and Regulation.

Hillwood teamed with television titan Taylor Sheridan in August to open a 450K SF production campus in AllianceTexas. Hillwood and Sheridan's SGS Studios plan to turn the area into the largest film and television production facility in the state.

CORRECTION, NOV. 17, 1:55 P.M. CT: This article's headline has been updated to correct the size of the Landmark by Hillwood community.