Toll Brothers (NYSE:TOL) is in early discussions with the town of Westtown Township, Pa. about developing on a locla farm with a long history of development proposals. Chadds Ford Live reports:
During a special public meeting, an audience of about 60 listened as representatives of Toll Brothers presented what Andrew J. Semon, a division president for the developer, described as “a very, very preliminary, conceptual discussion.”
Westtown Township Supervisor Mike T. Di Domenico said the township learned on Tuesday, June 28, that Toll had an agreement of sale to purchase the property. Supervisors’ Chairwoman Carol R. De Wolf explained that the township invited Toll to share its plans for the nearly 330-acre tract, prior to submitting any applications, so that the township could get initial insight into the developer’s intentions.
The first layout showed 300 two-story homes, a combination of 145 single-family and 165 carriage-style dwellings, all with basements. The second rendering featured a 347-unit mix of 143 single-family and 204 carriage-style homes. Both plans featured access from Route 926 and West Pleasant Grove Road; however, the second version included a connector road within the development that would parallel Route 202.