By Jill Ralph. By taking a hand in the development of a luxury master planned golf course and country club community, Toll Brothers has entered its 22nd U.S. market: South Carolina. Toll Brothers -- in partnership with leading local developers John Reed, Gary Rowe, and Tom Zinn -- is developing the 1,000 acre Hampton Hall in the Hilton Head market.
"As the baby boomers continue to mature, and demand for empty nester homes and second homes grow, we believe these interrelated markets offer tremendous growth opportunities," says Robert I. Toll, chairman and CEO of Toll Brothers.
The joint venture will develop Hampton Hall's approximately 935 home sites. Over the course of the next four years, Toll Brothers plans to acquire at least 180 of these home sites from the partnership. On the sites, Toll Brothers will build homes in multiple product lines ranging in price from $350,000 to $600,000.
John Reed, president of BHR Investments Inc., said that Hampton Hall will serve empty nesters buying a primary residence, a second home, or even a third home. He said he anticipates local residents to be drawn to "the high amenity lifestyle" that is being offered.
The remaining 755 lots that Toll Brothers doesn't purchase will be sold by the partnership to individuals and home builders.
Published in BIG BUILDER Magazine, January 2003