With low inventory continuing to plague the Philadelphia housing market, Toll Brothers is making a big push in the region. The Fort Washington-based luxury homebuilder has been aggressively acquiring land in the suburbs and is now in the middle of building more than 1,600 homes in the Philadelphia area. In just the past eight months, the developer spent $86 million acquiring five sites to build at least 440 homes on 309 acres. In Bucks County, Toll is developing 137 homes at Doylestown Walk in Doylestown, 38 homes at Steeple Run in Quakertown, and an undetermined number of homes on 86 acres in Langhorne. In Chester County, the company is developing 280 homes in Anfield at Malvern, 105 homes at the Preserve at Marsh Creek - Carriage Collection in Downingtown, 89 homes in Stonemill Village in Downingtown, and 33 homes at Riverstone Crossing in Spring City. In Montgomery County, Toll is developing 496 homes at Regency at Waterside in Ambler, 278 homes at Stonebrook at Upper Merion, 142 homes at Overlook Town Center in King of Prussia, and 16 homes at Bellflower in Eagleville.
Source: Philadelphia Business Journal; 5/5/2024