Meritage Homes will up its activity in the Charlotte market with a new community in Pineville, N.C. South Charlotte Weekly reports:
Old East Ventures purchased the property for $4.86 million in August. The new owner plans to develop lots for single family houses at the $275,000 to $325,000 price point.
The development will feature 299 units, ranging in size from 1,883 to 2,511 square feet, and a 2.5-acre amenity area, built by Meritage Homes. The new neighborhood can be accessed off of Main Street via Cranford Drive and Franklin Street. Construction on the site will begin by year end.
“Meritage is excited about the community which will be named Preston Park and feature 299 lots that will serve a family buyer,” said John Lintner, director of land acquisition with Meritage Homes. “The town has long been a desired destination for families because of its employment access, schools, parks and nearby retail.”
