Avalaire Community Announces Finalized Builder Team

Reprinted from Carolina Business Connection | Nov 12, 2015

Roster Of In-Demand Builders Revealed For Premier North Raleigh Community

RALEIGH, N.C. – Nov. 12, 2015 – Avalaire, the Triangle’s newest premier destination for luxury living in North Raleigh, announced its select group of homebuilders who will create the in-demand community. After receiving overwhelming interest from local builders, the developers of Avalaire completed a detailed, in-depth selection process to choose just eight who have a proven track record of creating high-quality, extraordinary homes across the greater Triangle region. Since the finalization of chosen homebuilders, Avalaire has also secured four pre-sales, a rare feat for undeveloped Triangle communities.

The all-star roster of exclusive builders are:

  • Arthur Rutenberg Homes
  • Bost Custom Homes
  • Homestead Building Company
  • KJ Construction
  • Loyd Builders
  • Phil Miller Construction
  • Robuck Design Build
  • Rufty Homes

Avalaire encompasses 160-acres near Durant Road, with 90 lushly wooded home sites to be built in two phases. Avalaire’s spacious parks and meandering trails complement the 25 percent of the community dedicated to the preservation of natural resources. Each home site ranges from three-fourths of an acre to just under three acres, with home prices from $1 million and up.

Coldwell Banker Howard Perry and Walston’s The Young Team was selected as the exclusive sales team for Avalaire. John and Leslie Young have been consistent multi-million dollar producers specializing in the North Raleigh luxury market and are members of the Luxury Home Marketing Group. They have received recognition as recipients of Coldwell Banker’s International President’s Elite Award and Team of the Year Award, and have been ranked among the top 10 Coldwell Banker teams in North Carolina. For more information about Avalaire visit Avalaire.com.

QUOTES:

“The Triangle hasn’t seen an exclusive community like this in eight years,” said Mark MacDonald, Avalaire developer. “The large lot sizes, premier location and the custom homebuilders we have selected are what make this community unique. We’re blown away at the interest we have seen so far and are excited to continue working on this project.”

“Having four pre-sales at this stage in the development of a community speaks to the incredible nature of Avalaire’s location and positioning as a choice living community,” said John Young. “Our roster of builders is poised to produce exceptionally high-quality homes that will serve as prime examples of what luxury homebuilding should look like. Each one has shown dedication to excellence through the level of homes they have built and will continue to deliver on this tradition with Avalaire.”

ABOUT AVALAIRE:

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 and meandering trails 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, 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.

New luxury housing community proposed for north Raleigh

Reprinted from the Triangle Business Journal | Jun 23, 2015
Photo Courtesy Al Ross Luxury Homes

Raleigh real estate investor Mark MacDonald is proposing a plan for something the Triangle home building market hasn’t seen for some time: A large-lot community for custom, million-dollar homes.

MacDonald, a former managing director of investments for Stratford Land Fund, is working through the final site details with Wake County planners for a project he’s calling Avalaire, a 160-acre housing community off Durant Road in north Raleigh.

Avalaire is slated to have a total 90 wooded home lots when completed, each averaging more than one acre. “The custom builders (of high-end homes) are having a hard time finding lots because there’s not much left out there. Most of them are on the other side of the lake,” MacDonald says, referring to Falls Lake in northern Wake County where commutes can be 30 minutes or more into downtown Raleigh or Research Triangle Park.

The draw, he says, for discerning high-end buyers is Avalaire’s location and its large lot sizes. Because it will connect into the neighboring Faircroft community, it won’t be gated. It also won’t have a big neighborhood amenity center, he says, because most of its buyers will likely build their own pool and fitness gym.

The heavily-wooded property has been owned by members of the Parker family for generations. “The family forever has said it’s not for sale, but then one day our phone rang,” MacDonald says.

He would not disclose yet how much his development firm, Arcadia Real Estate Advisors of Raleigh, is paying for the property, but he says the average finished lot price at Avalaire will be around $334,000.

Considering that on average the finished lot price for a new home accounts for about 20 percent of the sales price, average home values at Avalaire will likely be more than $1 million.

Avalaire’s property will be built in two phases on both the north and south side of Durant Road, near the intersection with Honeycutt Road. The first finished lots for builders and buyers at Avalaire should be ready by May 2016, says MacDonald.

Because it’s outside the Raleigh city limits, each lot will have to have its own septic system, and the whole community will be tied into a well water system that will be managed by Aqua NC, a subsidiary of Aqua America (NYSE: WTR).

Plans for Avalaire were also filed three months after another high-end project of a similar size also filed plans with the Wake County planning department.

The owners of a 151-acre site on Camp Kanata Road have proposed plans to build there a new high-end residential community with 123 home lots and 38 acres of open space. A subsidiary of GreenHawk Corp., a land development company based in Raleigh, had purchased the property in October for $4.7 million.