MPV Properties (MPV) says two residential land tracts have been sold at Farmington, a master-planned walkable community with Village Center retail and office off I-485 in Charlotte and Harrisburg.
TRI Pointe Homes and Taylor Morrison have begun development on the first residential properties which will bring single-family homes and townhomes to the community, the broker said in a statement.
TRI Pointe Homes has plans to develop 36 single-family homes along with 112 townhomes on the project’s north side.
Meanwhile, Taylor Morrison is building 135 townhomes along the east side of the project with model openings projected for Fall/Winter 2021.
Still to come, Woodfield Development is under contract to purchase a tract within Farmington adjacent to the Village Center. That purchase, combined with an additional mixed-use retail/residential building, will bring 323 apartments to the development. Woodfield is slated to close in early 2021. Finally, Tri Pointe Homes will also close on an additional parcel to build 79 more townhomes.
Construction on the approximately 500,000 sq. ft. of commercial is expected to begin in the summer of 2021, with the first stores coming online approximately one year after that, the broker says.