Scottsdale homebuilder gets go-ahead for another big North Carolina project
Meritage Homes, which already has projects developed in several North Carolina cities, is adding the Greensboro-Winston-Salem-High Point area, known as the Triad, to its footprint.
Scottsdale-based Meritage (NYSE: MTH) got approval from Mebane City Council on June 3 to go ahead with a 409-home project in what’s considered the fastest-growing municipality within the Triad area.
City Council agreed to extend the Mebane city limits to include the 54-acre site for the Oakwood subdivision planned by Meritage Homes of the Carolinas, a subsidiary of the Valley-based builder.
Plans previously approved by Mebane call for 275 single family home lots and 134 townhome units on a net of about 134 acres. The site is east of downtown on Washington Street to the north, with connections on the east to Mattress Factory Road and to the west at Oakwood Street, in the Orange County portion of the city.
Meritage focuses on first-time and first move-up homes, and is promoting Oakwood as a neighborhood with homes ranging from 1,648 to 3,252 square feet with three to five bedrooms. Meritage will offer six floorplans, with homes available this fall.
Meritage operates in Arizona, California, Colorado, Texas, Florida, Georgia, both Carolinas and Tennessee. The company was recently ranked in the top 5 among builders nationwide, based on home closings.
Other North Carolina communities that Meritage lists are in the Charlotte and Raleigh metro areas and Sunset Beach.
Last fall, Meritage paid almost $6 million to acquire a chunk of land in Durham, North Carolina, on which it was planning to build 150 homes.
Mebane’s population grew 10.87% from 2020-23, according to the U.S. Census Bureau’s most recent population estimates, making it the fastest growing Triad municipality.
Its residential growth shows no sign of letting up, with numerous residential projects under construction or under review from regional and national builders. Among the latest, a Raleigh developer is seeking to build a 110-unit single-family homes with a public park on the city’s northside, an area with several other moderately sized projects under construction.
Slippery Elm Properties LLC calls the project Saddle Club, which would be built on a 43-acre site in Mebane’s extra-territorial jurisdiction on its northern edge near Lake Michael Park, according to plans going before the city’s planning board June 10. The site is along Saddle Club Road at Lebanon Road on Mebane’s northern edge.