New residential development generates more than 100 houses

  • 2018-03-06
Stanley Martin, a home builder based in Virginia, has purchased land to develop into over 100 single-family homes in southwest Durham.

The company, which mostly builds houses in Maryland, Virginia, and North Carolina, bought six parcels of land at a cost of $6.1m, which will be subdivided into 101 lots. The six parcels, amounting to 70 acres, were obtained from Sally A. Staunton and the Cresset Baptist Church, with the help of SM Raleigh – a limited liability company.

The location has not seen much in the way of recent development, which could be viewed in a positive light. This lack of earlier development contributes to the new neighborhood being a quiet and uncongested location, yet it does not mean it will be remote or inaccessible.

The new neighborhood will be almost midway between Duke and UNC hospitals, and will be accessible to those traveling to Chapel Hill or Durham.

Construction on lots is anticipated by Stanley Martin to begin near the end of 2018, with home sales commencing in Spring 2019. The community will contain only single-family homes in sizes ranging from a low of 2,700 square feet to a high of 4,300 square feet.

When printing services will be asked to create documents previewing the homes exterior and floor plan options will be available is unclear at this time. Purchase prices for the new homes will start at around $450,000.