Ten landowners on the mostly-rural Ridgefield Drive in Cary, N.C. have sold their homes and properties to Ashton Woods and Taylor Morrison for $14 million altogether.
The Triangle’s booming housing market has attracted many home builders looking to purchase future development lots. Ashton Woods has been building in the Triangle area since 2010, and already has several other neighborhoods in development in Cary, including the Braemore neighborhood across the street from Ridgefield Drive. Taylor Morrison entered the area in 2007, and will also begin construction soon in the Preserve at White Oak, in Apex.
Ashton Woods plans to build about 71 new homes on the Ridgefield site, while Taylor Morrison plans to build on the remaining 73 lots. All of the Ridgefield Farms homes are expected to be single-family homes priced above $600,000. Development is expected to begin in the fall, with new homes complete by 2017.