A New Housing Development for North Raleigh

newhouseToll Brothers Inc is an American home building company dedicated to designing, building, and marketing attached and detached single family homes. They also help with financial arrangements for all homes that they build. Their homes are typically built in luxury residential communities.

According to bizjorurnal.com, Toll Brothers Inc. is interested in building a housing development in North Raleigh, right off Old Lead Mine Road. In fact, the company has filed a subdivision request with Raleigh’s planning department.

The building site is around 35 acres, situated next to the Lead Mine Elementary School. It is predicted that the property will be split into 91 home lots for single family units.

North Raleigh Realtor: New Housing Developments Will Help The Triangle Housing Market Continue Its Growth!

Owned by The Williams family, the 35 acres have been in the family for decades, handed down for generations.  Based on other new homes that Toll Brothers have built in and around the Triangle area, it’s likely that the land will be used to build luxury homes priced around $600,000 or more each.  Another factor supporting that prediction is the recent opening of another luxury community in the vicinity called Greys Landing.

According to bizjournals.com:

  • Greys Landing is a new community by Ashton Woods Homes that will have 31 units priced from $600,000s.
  • Ashton Woods paid $4 million for its 13 acres in 2012, or about $129,000 per lot, and it is anticipated that Toll Brothers won’t get off cheaply either.
  • The combined land value for the 35.5 acres that Toll Brothers is seeking to buy from the Williams family is $6.5 million.

North Raleigh realtors believe that new housing developments in the North Raleigh area help to solidify the fact that the housing market is getting better. Each passing month brings about new opportunities.

To keep up with new communities, home sales, and more from the housing market, be sure to visit back with our real estate blog. We love to keep you up-to-date on all information dealing with our improving economy and home market.

If you’re interested in selling your home in Raleigh and purchasing a home in one of the new communities, contact our North Raleigh real estate agency to speak with one of our expert agents! We hope to hear from you soon!

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