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Old 06-18-2008, 08:53 PM
 
4,136 posts, read 10,611,244 times
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I also love Carpenter Village. It really has a homey feel, is in a great location and the homes are very nice.
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Old 06-19-2008, 07:50 AM
 
Location: Piedmont NC
4,596 posts, read 10,937,420 times
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I seem to recall reading/hearing on the news that Toll Bros had lost significant monies this past year, and reported its lowest earnings ever? They are probably suffering in the housing market with people not buying?

My husband and I walked though the homes during the Parade of Homes back in the Fall, and there was nothing that really stood out for me. They were large, open -- some of the floor plans flowed nicely, others were a bit awkward -- but overall, I didn't think they were nice enough to command the asking prices, especially considering the size of the lots. Way too small as many of the homes have absolutely NO yard , and I wondered where children might play (I assume families with children generally want a home that size with those layouts?).

I also was not particularly wild about the way the neighborhood was laid-out. The master bedroom of one home was tucked into a corner that bordered a street leading directly into a cul-de-sac, and overlooked the neighbor's driveway (which was also the same view from the family room). The houses were too close together to afford much privacy.

For the money, unless you just have to have a brand-new home, I don't think you can do much better than some of the resales in the older areas of Carpenter Village, just across Louis Stephens Road. I was happy to see one of my favorites -- with a pretty stone front -- must've sold just this past week or so. These homes have established yards, fencing in the back yards, easily accessibility to the pool and the green way around the large pond/lake.

Airplane noise, rail concerns and noise have never been a problem. I think I have actually seen a train on that particular rail twice in the three years I've been here.
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Old 07-11-2008, 10:47 PM
 
Location: Lowest Taxed/Highest Q.O.L. CARY, NC
551 posts, read 516,817 times
Reputation: 141
Thumbs down Toll Brothers Will Not Build

Quote:
Originally Posted by Dire Wolf View Post
The Meadows model has a sign/map on the door pointing visitors to the model home in the house side of the neighborhood. If I get a chance, I'll check this weekend.

Dire Wolf, I stopped by the agents office today and asked about it. The have scrapped the idea of building the townhome section now. They will sell off all but one model and then let the land just sit there. They may never finish it. They might sell it off to another builder. They have the foundation poured for one set of homes and will just leave it the way it is. Another set of foundations has been dug and framed, but not poured. They had many of them sold, but closed down and gave all the deposits back. Those buyers must be a little upset.
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Old 07-12-2008, 07:38 AM
 
Location: Wake Forest
2,835 posts, read 6,953,878 times
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We are seeing this more and more these days as national builders are cutting cost and selling off property they planned on developing. In Wake Forest on Rt 98, Lone Star Steak House started to build a new restaurant, made the parking lot, put in the underground pipes, pured the concrete slab and then exited the project. Now we are stuck looking at that mess. Seems like they should have been made to put the land back the way it was before they created the mess. Sounds like Toll Brothers is doing the same. Where next? With all the commercial construction going on around the area, how many more eye sores will be created as the economy continues to sour?
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Old 07-12-2008, 11:06 AM
 
3,163 posts, read 7,120,021 times
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Thanks a lot for the update!

My guess (and that is all it is) is that the townhomes don't have as high margins as the single family homes, which is very important for a public company. For Toll Brothers to get zoning approval, etc., from the town to build Olde Carpenter, they almost certainly had to have a mix of homes (from what I've seen from planning boards). The townhomes were probably a necessary evil for them to develop the land.

Hopefully they'll sell this all off to someone else, get their write off, and then it will still get developed. Maybe even a local builder instead of one of these national ones (not a fan of the national builders).
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Old 07-12-2008, 11:28 AM
 
Location: Cary, NC
259 posts, read 598,956 times
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TB did same thing back in 90s. They started Somerset at 55 and left Drees to finish it. Anybody know what TB is doing for large development on green level church road and roberts road?

Walgreens on Davis+carpenter is also complete but not stocked for months now!
At the same time CVS completed and opened ther new store in Cary Park in record time.
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Old 07-12-2008, 03:42 PM
 
Location: Lowest Taxed/Highest Q.O.L. CARY, NC
551 posts, read 516,817 times
Reputation: 141
Quote:
Originally Posted by Dire Wolf View Post
Thanks a lot for the update!

My guess (and that is all it is) is that the townhomes don't have as high margins as the single family homes, which is very important for a public company. For Toll Brothers to get zoning approval, etc., from the town to build Olde Carpenter, they almost certainly had to have a mix of homes (from what I've seen from planning boards). The townhomes were probably a necessary evil for them to develop the land.

Hopefully they'll sell this all off to someone else, get their write off, and then it will still get developed. Maybe even a local builder instead of one of these national ones (not a fan of the national builders).

I think they a nationally cash strapped, so they cannot outlay the amount of cash needed to do this development now. It is tighter for all builders, until the market picks up next year once the election is over.
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