Fort Washington home builder Toll Brothers have acquired 159 acres of undeveloped land in Malvern and are planning to build 280 luxury townhomes on the site, writes Paul Schwedelson for the Philadelphia Business Journal. 

The developer purchased the three parcels — 272 Lapp Road, 278 Lapp Road, and 367 Old Morehall Road — for $33 million from Knickerbocker Lands. 

Toll Brothers plans to open the master-planned development, named Anfield at Malvern, in spring 2024. Site improvements on the property are currently underway. 

The prices for the townhomes have not yet been disclosed. The residences will range from 1,825 square feet to 2,995 square feet. 

The development, which is located within the Great Valley School District, will also include a clubhouse, fitness center, gathering room, outdoor pool, and pickleball courts, as well as walking trails and a dog park. 

Toll Brothers has recently increased its speculative home building due to a record low inventory across the region and nationally. The company built 2,492 homes at an average price of $1 million in the second quarter of this year. 

Read more about the planned development in the Philadelphia Business Journal. 

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