Arizona developer arrives in Charlotte market with Gastonia community
Jan 9, 2019, 2:59pm EST Updated: Jan 11, 2019, 2:57pm EST
Ken Elkins, Senior Staff Writer, Charlotte Business Journal
A Phoenix developer is breaking into the Charlotte market with a 720-home subdivision that should deliver lots to homebuilders later this year.
Suncrest Real Estate & Land expects to begin work later this month on 245 acres in southern Gaston County that will become the Presley community, which Suncrest Principal Sean Cooney calls an “amenity-based master-planned community.”
Cooney says homebuilders D.R. Horton Inc. (NYSE: DHI) and Meritage Homes Corp. (NYSE: MTH) have been picked for the community.
“Lots will be ready to deliver at the end of the third quarter,” Cooney says. That’s in the first phase, which will contain 320 homesites, of two phases planned at Presley. The site is located along Union New Hope Road in Gastonia, about 18 miles west of Charlotte.
“The location speaks for itself along with the allure of Charlotte,” Cooney says, when asked why Suncrest picked the region for the expansion of its development plans.
The Presley site has lots of history in Gastonia. In 2016, a Charlotte land developer wanted to buy 314 acres of the former state Sen. David Hoyle’s family land in Gastonia.
Although the site had been annexed into Gastonia in about 2006, it had no water and sewer service to the property. In 2016, Gastonia City Council voted to extend water and sewer service to the Presley vicinity.
Suncrest is also planning a 235-townhome development in Indian Land, which would be its second project in the Charlotte region. Details about the project, including its name, are expected to be disclosed at the Lancaster County Planning Commission meeting later this month.
Until then, Cooney was hesitant to talk about that project. “That’s going through the entitlement process right now,” he explains.
We do know that Suncrest is working on a master-planned community for 75 acres on the west side of Harrisburg Road in Indian Land. The site is about 17 miles south of Charlotte in the panhandle area of Lancaster County.
Suncrest also developed the land for Del Webb at Traditions in Wake Forest, in the Raleigh area. That was its first move into North Carolina.