Several of you have asked “what’s going on with the clear-cutting of trees on 70A?” The following is a recent article from the Triangle Business Journal:
Charlotte firm charts new housing development for Hillsborough
Amanda Jones HoyleStaff Writer- Triangle Business JournalEmail | Twitter
Charlotte real estate developer Crescent Communities has paid $3 million for 116 acres of land near the Eno River in Hillsborough where it is planning to build up to 233 new homes.
The land is located along Business Highway 70 across from the Orange County Sportsplex on the east side of Hillsborough. It has already been zoned for a mix of single-family and townhouse homes.
Investors affiliated with W&W Partners of Cary, including Kyle Ward, Stephen Ward and Michael Hunter, bought the land in 2008 and took it through entitlements in 2009, according to town records.
The partners were calling the development project Forest Ridge, but a representative of Crescent Communities says a final name for the Hillsborough community has not been decided.
Development is expected to begin in October, and the first homes are expected to open in the spring of 2014. Home prices will range from the $200,000s to $500,000s.
Keith Glenn, senior vice president for the Carolinas and Tennessee for Crescent’s residential group, says the Hillsborough project will also have a trail connection at the Eno River that leads to the 530-mile Mountains-to-Sea Trail and also to Hillsborough’s public Riverwalk greenway.
The Crescent Hillsborough community will be the first major residential housing community that Crescent has planned in the Triangle in several years. It is also building three apartment communities in Raleigh and in Charlotte.