Mar 11, 2015
We recently heard some exciting news out of the Raleigh, NC real estate market.
Evidently, Pulte Homes recently purchased a 36-acre north Raleigh infill site for $11 million.
This means that North Raleigh home buyers will have even more options soon when it comes to purchasing a new construction property. Continue reading to learn more!
What You Should Know About This Recent Development Deal
According to the recent article I read, Pulte Home purchased the 36 acres of undeveloped land on Old Lead Mine Road. The land is actually considered to be one of the larger infill sites left in north Raleigh.
Evidently, the deal was only able to come through after luxury home builder Toll Brothers pulled out of the purchase last year. Toll Brothers had planned to file site plans in 2013 to build 91 single-family home lots on the land.
Now that it has the land, Pulte is planning 86 single-family home lots for a new age-targeted residential community. The property is located next to Lead Mine Elementary School on Old Lead Mine Road.
Experts expect homes will be priced at more than $600,000, although Pulte has not disclosed official details yet.
Analysts said that the land is prime property in the north Raleigh area. After all, the infill parcel is one of the largest in the city. Plus, future home owners there will enjoy the great north Raleigh location, with easy access to Research Triangle Park, downtown Raleigh and outlying suburbs.
We’re Your Dedicated Raleigh, NC Real Estate Experts
The recent purchase that Pulte Home made in north Raleigh is exciting for everyone in the city, even if they’re not intending to purchase property there.
After all, new construction homes help elevate a market and raise property values for those in the surrounding area. Plus, new construction is a sign that the local economy is indeed rebounding and becoming more robust.
Are you currently considering entering the local housing market as a Raleigh home buyer or seller? If so, then please take a moment to contact us at The Rachel Kendall Team.
We would love to assist you by answering any questions you might have as well as providing you with some valuable real estate resources.
Until next time,
Rachel