M/I Homes has resurrected a defunct development in Lancaster County near Charlotte where it plans to build 137 homes. The Charlotte Business Journal reports:
A failed neighborhood project that has sat undeveloped for a decade as home construction boomed around it is finally being revived. M/I Homes will start building houses on large lots at The Regions of Bretagne on Barberville Road in Indian Land at the end of the month.
Originally, Bretagne was supposed to be a community of $2 million homes when it was marketed in 2007. But it has remained untouched since that project fell through in the midst of the Great Recession.
Roughly 90 lots were sold in 2007 to buyers who expected European-style homes to be built. As the economy suffered, the developer stopped building in summer 2008 and, later, attempted to sell the property. Wachovia Bank foreclosed on the land and construction never restarted.
Now, M/I Homes has acquired the site where it plans to build two different product lines on 137 lots.
