Toll Brothers recently acquired 37 acres of undeveloped land in Upper Southampton Township for $7.2 million, where it plans to build 115 active-adult carriage homes, writes Paul Schwedelson for the Philadelphia Business Journal.
The development, located at 984 Second St. Pike across from Tamanend Community Park and aimed at people ages 55 and older, will be part of Toll Brothers’ Regency collection. The construction is expected to start this summer.
However this is not the Fort Washington-based luxury homebuilder’s only project in Bucks County. Toll Brothers is working on a 55-plus development named Regency at Rockhill Ridge, with home prices expected to start in the high $500,000 range. The housing development company purchased a 17-acre site in Sellersville for $5.3 million for the project.
The homebuilder also paid $2.5 million earlier this year for a Chalfont site next to Wawa to build 44 townhomes and spent $7 million for a 61-acre property in Newtown for 45 single-family homes.
According to CEO Douglas Yearley Jr., the company plans to be more selective in its land acquisition after recording a quarterly revenue drop year over year for only the second time since 2021.
To dive deeper into Toll Brothers’ latest developments and what they signal for Bucks County’s housing market, read the full story on the Philadelphia Business Journal.
