A housing development in a town north of Durham that calls for hundreds of homes has passed a key hurdle.Lyon Station, a community proposed by Arizona-based Meritage Homes Corp. (NYSE: MTH) in Butner that will hold a maximum of 838 single-family homes, received a recommendation of approval for rezoning by the Butner Planning Board this month, according to Mallory Richard, the town’s planning director.Much like national builder Pulte Homes, Meritage Homes in the spring of 2021 entered the Triad market, focusing on the eastern edge of the Triad. In addition to the 129-unit Stillhouse Farm project in Graham that represented its entry then, the company is also now promoting Cherry Creek in Haw River, with homes priced from about $380,000 to $420,000. It’s big new project planned in Butner is about 40 minutes east of those Alamance County developments.The Butner project involves rezoning roughly 334 acres off West Lyon Station Road near Interstate 85 to a Planned Unit Development (PUD). The Town Council is scheduled to hold a public hearing and vote on the proposal during a Jan. 4 meeting.It’s unclear how much the new homes would cost and what the construction timeline is. Representatives of Meritage declined to comment.Application materials Meritage submitted to the town say, “The Lyon Station PUD is thoughtfully designed to provide a proposed residential community that is pedestrian friendly, considers the unique environmental qualities of the land and offers various housing options for future residents.”In addition to the homes, “playgrounds, dog parks, and other recreational facilities will be placed intermittently throughout Lyon Station for the benefit of its residents,” Meritage said in its application.This is the latest development coming to Butner, a town in Granville …
See the full article on Arizona residential development, or, read more Arizona real estate investing news. Feel free to share our site with your investor friends.
