A Fort Washington homebuilder purchased a 73-acre undeveloped property in Chester County for nearly triple what it sold for last year and plans to build dozens of single-family homes. Foxlane Homes recently bought the four parcels in Glenmoore, Wallace Township, for $6.8 million — 15 months after the land sold for $2.3 million, according to property records. During the time in between the two sales, development on the property was approved and the Chester County housing market became increasingly lucrative. The site is between Devereux Road and Lexington Manor, south of I-76. The seller was Wallace Tract I Partners LLC. Foxlane plans to build 36 homes that would each have four to six bedrooms, three-and-a-half to six bathrooms and three-car garages. Floor plans on Foxlane’s website show homes starting at 3,100 square feet up to as large as 4,400 square feet. The development is set to be called the Estates at Stonecliff. Prices are unclear.
Source: Philadelphia Business Journal; 7/14/2024