A developer plans to turn a 436-acre piece of a former Triad dairy farm into a residential community with more than 1,000 homes.
Triad Business Journal has learned that D.R. Horton (NYSE: DRI) plans to build on part of the former Coble Dairy Farm in Davidson County's Tyro community, west of Lexington. A spokesperson in the Davidson Planning & Zoning department told TBJ that a plan for as many as 1,078 single-family and condo homes is expected to come before the Planning & Zoning Board at the end of this month.
The property, which sits at the corner of Old Salisbury and Tyro roads near Sapona Golf, Swim & Tennis Club, is owned by Hubbard Commercial of Winston-Salem, which paid almost $3.8 million for the property at auction in 2005. Sapona was closed briefly in 2018 by former owner Richard Childress before rebounding under new local ownership.
The rolling land, only a few miles from Interstate 85 access, includes two lakes and barns. According to The Lexington Dispatch, the planned housing development would be the largest in county history.
On Tuesday night, Hubbard Commercial CEO Bruce Hubbard told TBJ that a potential buyer was taking steps toward a purchase, but a purchase had not been completed. Hubbard said a confidentiality agreement prevented him from identifying the potential buyer/builder.
Calls to D.R. Horton's Greensboro-Winston-Salem office were not answered.
Housing is booming throughout the Triad, and especially in Davidson County. On Tuesday night, the Davidson Board of Commissioners will vote on zoning for Fieldstone, a 211-acre tract on the west side of South Union Grove Road, north and south of the terminus of Daydream Lane in the Arcadia community in the northern part of the county.
As TBJ has reported, at least some of the growth in Davidson, can be attributed to Egger Wood Products, which plans to eventually have a workforce of 770 in its new facilities.
At Fieldstone, Shugart Homes plans a mix of single-family homes (in two distinct sections), twin homes and patio homes.
Ken Capron, chief operating officer of Shugart, said that Fieldstone would have 300-plus homes with a total of up to 25 different models.
Capron said some decisions remain on the housing, but he expects prices to range from the low $200,000s into the $300,000s. Amenities will include a pool and cabana complex, much like the one planned at another future Shugart development on the former Hanes Estate in Pfafftown.
"We're meeting a lot of different buyer profiles," he said.
Capron said Shugart's recent affiliation with Mungo Homes and Clayton Properties Group has given the company more capabilities.
"We're trying to do more larger projects with multiple phases," he said. "Multiple sales in the same community is more economical for us, and people buy communities more than they buy houses. We're trying to be all we can be to as many people as we can."