RALEIGH, N.C., May 11, 2017 – Avalaire, North Raleigh’s premier destination for luxury living, announced that the phase two land has been recorded with Wake County. Avalaire’s land developer, Mark MacDonald, and developer partner for Avalaire Land, Pablo Reiter, closed last week on this part of the community.
Phase two in Avalaire will have 37 private home sites, totaling 58.34 acres. The purchase price of the land was $5,869,868, and development of this property will begin this Summer with developed home sites by early 2018. Phase one, which was recorded in November, has seven inventory homes in various stages of construction and planning, including our Model Home scheduled for completion in the Fall, totaling approximately $12 million, with an estimated home price of $1.6 million. In addition to these homes, there are just over 15 million in presales in phase one.
Avalaire has assembled an award-winning list of builders, including Arthur Rutenburg Homes, Mike Young Homes, Phil Miller Construction, Homestead Building Company, Robuck Design Build, KJ Construction, Rufty Homes, Loyd Builders LLC, and Bost Custom Homes.
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“With phase one of Avalaire well underway, we are excited to close on phase two,” said Reiter. “Home sales have been strong thus far, and we anticipate continued interest in our expanded community.”
”In addition to its desirable location, Phase two is a gorgeous piece of land with gentle, sloping terrain and numerous large hardwood trees,” said MacDonald.
Avalaire is the greater Triangle region’s premier destination for luxury living. Located in the heart of North Raleigh just off Durant Road, Avalaire is minutes from the area’s best schools, fantastic restaurants and great shopping. Avalaire will offer beautiful parks throughout the community, 25 percent of which is dedicated to the preservation of its natural resources. Two centuries-old oaks will border the grand entrance, leading the way to 56 gorgeous home sites in phase one, which range from three-fourths of an acre to just under three acres. Residents of the community will also enjoy no city taxes, in addition to the serene atmosphere. For more information, visit Avalaire.com.
Contact: Blair Kelly