Meritage Homes has acquired 58 acres in eastern Lincoln County, North Carolina where it plans to build 152 homes, bizjournals.com reports.
A national homebuilder plans to start building in a 152-home community in Denver as soon as late 2018.
Meritage Homes Corp. (NYSE: MTH) has named the community Canopy Creek and is working on site preparation now, says John Lintner, Meritage's director of land acquisition in Charlotte.
“We’re seeing tremendous growth in that submarket,” Lintner says. Just about everywhere in Charlotte needs homes as supply hasn’t been able to catch up to demand, he adds.
Lintner likes the site for its easy access to Charlotte along N.C. Highway 16.
Canopy Creek will target active adults and family buyers with homes starting in the high $200,000s. The home sizes will range from 1,600 to 2,800 square feet.
The subdivision will include a pool and cabana and walking trails. Lawn maintenance is part of the deal to build in Canopy Creek.